Amalgamated Bank Purchases 2,598 Shares of Veralto Co. (NYSE:VLTO)

Amalgamated Bank boosted its position in Veralto Co. (NYSE:VLTO) by 5.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 50,126 shares of the company’s stock after acquiring an additional 2,598 shares during the period. Amalgamated Bank’s holdings in Veralto were worth $5,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the second quarter valued at about $26,000. Fairscale Capital LLC bought a new position in shares of Veralto in the second quarter worth approximately $30,000. Raleigh Capital Management Inc. increased its position in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. LRI Investments LLC bought a new position in shares of Veralto in the first quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

NYSE:VLTO opened at $104.30 on Friday. The firm has a market cap of $25.79 billion and a PE ratio of 32.19. Veralto Co. has a fifty-two week low of $69.09 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The business has a 50 day moving average price of $109.38 and a 200-day moving average price of $103.61.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share 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 analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Equities research analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s payout ratio is 11.11%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VLTO. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Stifel Nicolaus upped 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. Finally, Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $108.27.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’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 in the company, valued at approximately $15,260,841.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,038 shares of company stock worth $3,989,693 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

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.