Veralto Co. (NYSE:VLTO) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,884 shares of the company’s stock after purchasing an additional 5,030 shares during the quarter. Victory Capital Management Inc.’s holdings in Veralto were worth $11,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Veralto in the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new position in Veralto in the 2nd quarter valued at about $26,000. Fairscale Capital LLC acquired a new position in Veralto in the 2nd quarter valued at about $30,000. Raleigh Capital Management Inc. grew its position in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Veralto in the 1st quarter valued at about $30,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Up 1.1 %

VLTO opened at $105.11 on Thursday. The business’s fifty day moving average is $108.32 and its two-hundred day moving average is $104.32. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a market cap of $25.99 billion and a price-to-earnings ratio of 32.09. Veralto Co. has a one year low of $70.47 and a one year high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.34%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,639 shares of company stock worth $3,175,803. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VLTO has been the subject of several recent research reports. UBS Group initiated coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Hold” and an average price target of $108.27.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.