ClearAlpha Technologies LP Takes Position in Veralto Co. (NYSE:VLTO)

ClearAlpha Technologies LP bought a new stake in Veralto Co. (NYSE:VLTO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,381 shares of the company’s stock, valued at approximately $266,000.

Several other institutional investors also recently bought and sold shares of VLTO. Brown Brothers Harriman & Co. lifted its position in Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after buying an additional 100 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after buying an additional 100 shares during the period. Strategic Blueprint LLC grew its holdings in Veralto by 4.5% in the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after acquiring an additional 102 shares during the last quarter. Finally, Graypoint LLC increased its position in shares of Veralto by 2.4% in the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock valued at $505,000 after acquiring an additional 107 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the firm’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 of the company’s stock, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s 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 owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is owned by insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $106.65 on Tuesday. The business has a fifty day simple moving average of $107.93 and a two-hundred day simple moving average of $104.96. The firm has a market capitalization of $26.38 billion, a P/E ratio of 32.92, a P/E/G ratio of 4.46 and a beta of 0.91. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00.

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

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. BMO Capital Markets lifted 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. Stifel Nicolaus upped their target price on Veralto from $117.00 to $119.00 and gave the company 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 issued a “neutral” rating and a $118.00 price target on the stock. Seven 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.27.

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.