Wahed Invest LLC Purchases 970 Shares of Veralto Co. (NYSE:VLTO)

Wahed Invest LLC raised its position in shares of Veralto Co. (NYSE:VLTO) by 19.3% in the third quarter, HoldingsChannel reports. The fund owned 5,996 shares of the company’s stock after acquiring an additional 970 shares during the period. Wahed Invest LLC’s holdings in Veralto were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its stake in shares of 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 buying an additional 99 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Veralto by 0.5% in the second 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 period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Veralto by 1.4% in the third 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 boosted its stake in shares of Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after buying an additional 102 shares during the period. Finally, Graypoint LLC boosted its stake 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 buying an additional 107 shares during the period. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 1.2 %

Shares of NYSE:VLTO opened at $106.53 on Friday. The company has a fifty day moving average of $107.58 and a 200-day moving average of $105.09. The company has a market capitalization of $26.35 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 4.44 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00.

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

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. Veralto’s payout ratio is 11.11%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VLTO shares. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price objective 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. Finally, Royal Bank of Canada boosted their price objective 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. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Veralto currently has a consensus rating of “Hold” and a consensus price target of $108.27.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,695 shares of company stock worth $1,615,017 over the last three months. Company insiders own 0.31% of the company’s stock.

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.