Larson Financial Group LLC Raises Stake in Veralto Co. (NYSE:VLTO)

Larson Financial Group LLC boosted its holdings in shares of Veralto Co. (NYSE:VLTO) by 562.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 755 shares of the company’s stock after purchasing an additional 641 shares during the period. Larson Financial Group LLC’s holdings in Veralto were worth $84,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of VLTO. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto in the third quarter valued at about $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Veralto in the second quarter valued at about $26,000. Fairscale Capital LLC purchased a new stake in shares of Veralto in the second quarter valued at about $30,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Veralto by 692.3% in the third 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. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value 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 approximately $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,448 shares of company stock valued at $1,698,675 over the last 90 days. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $108.27.

Veralto Stock Performance

Shares of VLTO opened at $107.97 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The stock has a market cap of $26.70 billion and a P/E ratio of 33.32. The company has a 50-day moving average of $108.02 and a two-hundred day moving average of $104.72. Veralto Co. has a 12-month low of $72.85 and a 12-month high of $115.00.

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

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio is presently 11.11%.

Veralto Profile

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.