Cooper Financial Group Raises Stock Position in Veralto Co. (NYSE:VLTO)

Cooper Financial Group grew its position in Veralto Co. (NYSE:VLTO) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,543 shares of the company’s stock after buying an additional 598 shares during the period. Cooper Financial Group’s holdings in Veralto were worth $870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Veralto in the third quarter valued at approximately $25,000. Goodman Advisory Group LLC acquired a new position in shares of Veralto in the 2nd quarter valued at $26,000. Fairscale Capital LLC acquired a new position in shares of Veralto in the 2nd quarter valued at $30,000. Raleigh Capital Management Inc. grew its holdings in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in shares of Veralto during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity at Veralto

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

Veralto Trading Up 1.0 %

NYSE VLTO opened at $101.13 on Tuesday. Veralto Co. has a 52 week low of $73.91 and a 52 week high of $115.00. The firm has a 50 day moving average of $104.16 and a two-hundred day moving average of $105.69. The stock has a market capitalization of $25.01 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 4.30 and a beta of 1.06. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion for 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%. Veralto’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, research analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

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

Wall Street Analyst Weigh In

VLTO has been the topic of a number of recent analyst reports. BMO Capital Markets upped their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. 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 objective on the stock. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Citigroup dropped their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Stifel Nicolaus lowered their target price on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Veralto currently has an average rating of “Hold” and an average price target of $113.27.

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.