iSAM Funds UK Ltd Buys New Shares in Veralto Co. (NYSE:VLTO)

iSAM Funds UK Ltd bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,985 shares of the company’s stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto in the 3rd quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Veralto in the 2nd quarter valued at approximately $26,000. Fairscale Capital LLC purchased a new stake in shares of Veralto in the 2nd quarter valued at approximately $30,000. Hazlett Burt & Watson Inc. lifted its position in shares of 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 in the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now directly 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 is available through this link. Also, 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 transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $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. In the last three months, insiders have 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 VLTO opened at $106.53 on Friday. The company’s fifty day moving average is $107.58 and its 200-day moving average is $105.13. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00. The firm has a market cap of $26.35 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 4.44 and a beta of 0.91. The company has a quick ratio of 1.87, a current ratio of 2.13 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, 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 company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business posted $0.75 EPS. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were paid 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 presently 11.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VLTO shares. UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Stifel Nicolaus increased their target price 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. BMO Capital Markets increased their target price 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. Finally, 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 research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.