Tidal Investments LLC Raises Stock Holdings in Veralto Co. (NYSE:VLTO)

Tidal Investments LLC boosted its holdings in Veralto Co. (NYSE:VLTO) by 12.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,534 shares of the company’s stock after buying an additional 1,832 shares during the quarter. Tidal Investments LLC’s holdings in Veralto were worth $1,849,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto during the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Veralto during the 2nd quarter valued at about $26,000. Fairscale Capital LLC purchased a new stake in shares of Veralto during the 2nd quarter valued at about $30,000. Raleigh Capital Management Inc. increased its position 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 purchasing an additional 270 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position 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 valued at $32,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Down 0.7 %

VLTO stock opened at $103.45 on Wednesday. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 4.30 and a beta of 0.91. The business has a 50 day simple moving average of $106.71 and a two-hundred day simple moving average of $105.41.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts anticipate that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.35%. Veralto’s dividend payout ratio is currently 11.11%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Royal Bank of Canada boosted their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Stifel Nicolaus cut their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.50.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the 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 transaction, the senior vice president now owns 11,165 shares of the company’s stock, valued at $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is currently owned by insiders.

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.