Bank of Montreal Can Acquires 234,323 Shares of Veralto Co. (NYSE:VLTO)

Bank of Montreal Can increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 106.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,474 shares of the company’s stock after purchasing an additional 234,323 shares during the period. Bank of Montreal Can owned approximately 0.18% of Veralto worth $50,239,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Veralto in the third quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the second quarter worth $26,000. Fairscale Capital LLC bought a new stake in shares of Veralto during the second quarter worth $30,000. Hazlett Burt & Watson Inc. increased its position in shares of Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.0 %

Veralto stock opened at $107.97 on Thursday. The company has a market cap of $26.70 billion and a P/E ratio of 33.32. Veralto Co. has a 1-year low of $72.85 and a 1-year high of $115.00. The company has a fifty day simple moving average of $108.06 and a 200 day simple moving average of $104.70. 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 (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS 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 analysts’ expectations 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 quarter last year, the company posted $0.75 earnings per share. Research analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VLTO. BMO Capital Markets increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Royal Bank of Canada increased 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. Finally, Stifel Nicolaus increased 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. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target of $108.27.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This trade represents a 6.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated 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 owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,639 shares of company stock worth $3,175,803 over the last quarter. 0.31% of the stock is currently owned by insiders.

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.