Lecap Asset Management Ltd. Has $3.49 Million Position in Veralto Co. (NYSE:VLTO)

Lecap Asset Management Ltd. grew its holdings in Veralto Co. (NYSE:VLTO) by 76.2% during the third quarter, Holdings Channel.com reports. The firm owned 31,174 shares of the company’s stock after acquiring an additional 13,477 shares during the quarter. Veralto accounts for about 0.8% of Lecap Asset Management Ltd.’s portfolio, making the stock its 22nd biggest position. Lecap Asset Management Ltd.’s holdings in Veralto were worth $3,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Goodman Advisory Group LLC bought a new stake in Veralto during the second quarter worth about $26,000. LRI Investments LLC acquired a new position in shares of Veralto during the 1st quarter worth approximately $30,000. Fairscale Capital LLC bought a new stake in shares of Veralto during the 2nd quarter worth approximately $30,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Veralto in the first quarter valued at $33,000. Institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction dated 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 $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,039 shares of company stock valued at $4,310,335. 0.31% of the stock is owned by corporate insiders.

Veralto Stock Performance

NYSE:VLTO opened at $111.79 on Wednesday. The stock has a 50 day simple moving average of $110.86 and a 200 day simple moving average of $102.54. The stock has a market cap of $27.60 billion and a P/E ratio of 35.04. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $114.61. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. Research analysts anticipate that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.32%. Veralto’s payout ratio is 11.29%.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of recent analyst reports. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. The Goldman Sachs Group raised their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. TD Cowen raised their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.00.

Veralto Company 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.