Prio Wealth Limited Partnership Cuts Position in Veralto Co. (NYSE:VLTO)

Prio Wealth Limited Partnership lessened its stake in Veralto Co. (NYSE:VLTO) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,296 shares of the company’s stock after selling 108 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Veralto were worth $1,487,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Goodman Advisory Group LLC acquired a new stake in Veralto in the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new stake in Veralto in the 1st quarter valued at about $30,000. Fairscale Capital LLC acquired a new stake in Veralto in the 2nd quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its stake in Veralto by 11,100.0% in the 2nd 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 last quarter. Finally, Mather Group LLC. acquired a new stake in Veralto in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VLTO. TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Stifel Nicolaus raised their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada raised their target price on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Seven research 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, the stock presently has an average rating of “Hold” and a consensus target price of $108.00.

Veralto Trading Down 0.8 %

NYSE VLTO traded down $0.94 during mid-day trading on Monday, hitting $112.66. The company’s stock had a trading volume of 160,034 shares, compared to its average volume of 1,549,601. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $114.61. The stock’s fifty day simple moving average is $110.66 and its two-hundred day simple moving average is $102.18. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The firm has a market capitalization of $27.81 billion and a P/E ratio of 35.58.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. Research analysts expect that Veralto Co. will post 3.46 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.32%. Veralto’s dividend payout ratio is currently 11.29%.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock worth $4,310,335 over the last 90 days. Company insiders own 0.31% of the company’s stock.

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.