Veralto Co. (NYSE:VLTO) Stock Position Lifted by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its stake in Veralto Co. (NYSE:VLTO) by 19.4% in the third quarter, Holdings Channel reports. The institutional investor owned 15,999 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Cornerstone Advisors LLC’s holdings in Veralto were worth $1,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VLTO. Ashton Thomas Securities LLC acquired a new stake in shares of Veralto in the third quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new stake in Veralto in the 2nd quarter valued at approximately $26,000. LRI Investments LLC bought a new position in Veralto in the 1st quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in shares of Veralto during the second quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the sale, the senior vice president now owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm’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 owns 138,546 shares in the company, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,639 shares of company stock worth $3,175,803. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. 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 report on Monday, September 30th. Royal Bank of Canada boosted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Robert W. Baird raised their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $108.27.

Veralto Trading Up 0.9 %

NYSE:VLTO opened at $106.01 on Friday. The company has a market cap of $26.22 billion and a P/E ratio of 32.72. Veralto Co. has a twelve month low of $72.23 and a twelve month high of $115.00. The business has a 50 day moving average price of $108.18 and a two-hundred day moving average price of $104.33. 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 quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. As a group, analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a $0.09 dividend. 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 0.34%. Veralto’s payout ratio is 11.11%.

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.