Brooklyn Investment Group Invests $182,000 in Veralto Co. (NYSE:VLTO)

Brooklyn Investment Group acquired a new stake in shares of Veralto Co. (NYSE:VLTO) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,624 shares of the company’s stock, valued at approximately $182,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swedbank AB bought a new stake in shares of Veralto during the first quarter valued at about $237,864,000. Principal Financial Group Inc. grew its stake in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after acquiring an additional 757,389 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in Veralto during the 2nd quarter worth approximately $39,343,000. Point72 Asset Management L.P. purchased a new stake in Veralto in the 2nd quarter worth approximately $24,618,000. Finally, Bank of Montreal Can boosted its holdings in Veralto by 106.0% in the 3rd quarter. Bank of Montreal Can now owns 455,474 shares of the company’s stock valued at $50,239,000 after purchasing an additional 234,323 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,639 shares of company stock worth $3,175,803. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BMO Capital Markets increased their price objective 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 upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. TD Cowen lifted their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Stifel Nicolaus increased their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.27.

Veralto Price Performance

VLTO stock opened at $107.96 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm has a market cap of $26.70 billion and a P/E ratio of 33.32. The firm’s fifty day moving average is $108.06 and its 200 day moving average is $104.67. Veralto Co. has a 52 week low of $72.85 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. 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 $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.33%. Veralto’s payout ratio is currently 11.11%.

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.