HB Wealth Management LLC Increases Stake in Veralto Co. (NYSE:VLTO)

HB Wealth Management LLC raised its holdings in shares of Veralto Co. (NYSE:VLTO) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,724 shares of the company’s stock after acquiring an additional 635 shares during the quarter. HB Wealth Management LLC’s holdings in Veralto were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Veralto during the third quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Veralto by 140.1% in the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after buying an additional 255 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Veralto in the 3rd quarter worth $46,000. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

Veralto Stock Up 0.5 %

Shares of NYSE:VLTO opened at $103.26 on Friday. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 4.33 and a beta of 1.06. Veralto Co. has a 12 month low of $75.05 and a 12 month high of $115.00. 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 company has a 50-day moving average price of $103.99 and a 200 day moving average price of $106.00.

Veralto (NYSE:VLTO) last posted 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. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. As a group, equities research analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.43%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s payout ratio is presently 13.58%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus reduced their price objective on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. BMO Capital Markets upped their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $113.27.

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.