Adero Partners LLC Takes Position in Veralto Co. (NYSE:VLTO)

Adero Partners LLC acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,908 shares of the company’s stock, valued at approximately $213,000.

Several other large investors have also recently modified their holdings of VLTO. Ashton Thomas Securities LLC bought a new position in shares of Veralto during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Veralto during the 2nd quarter worth approximately $26,000. LRI Investments LLC bought a new position in shares of Veralto during the 1st quarter worth approximately $30,000. Fairscale Capital LLC bought a new position in shares of Veralto during the 2nd quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of NYSE VLTO opened at $102.68 on Monday. The company’s fifty day moving average price is $108.57 and its 200 day moving average price is $104.13. Veralto Co. has a 1 year low of $70.06 and a 1 year high of $115.00. The company has a market capitalization of $25.39 billion and a PE ratio of 31.69. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. On average, research analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio is presently 11.11%.

Analysts Set New Price Targets

VLTO has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. TD Cowen boosted their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Robert W. Baird boosted their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus price target of $108.27.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were 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 approximately $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. This represents a 36.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,038 shares of company stock worth $3,989,693. Company insiders own 0.31% of the company’s stock.

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.