Janney Montgomery Scott LLC Acquires 20,639 Shares of Veralto Co. (NYSE:VLTO)

Janney Montgomery Scott LLC boosted its stake in shares of Veralto Co. (NYSE:VLTO) by 66.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,475 shares of the company’s stock after purchasing an additional 20,639 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Veralto were worth $5,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its stake in Veralto by 0.5% in the 2nd 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 last quarter. Strategic Blueprint LLC grew its position 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 purchasing an additional 102 shares during the last quarter. Perkins Coie Trust Co increased its stake in shares of Veralto by 1.8% during the third quarter. Perkins Coie Trust Co now owns 7,253 shares of the company’s stock worth $811,000 after purchasing an additional 125 shares during the period. Toth Financial Advisory Corp lifted its holdings in Veralto by 16.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 910 shares of the company’s stock worth $102,000 after purchasing an additional 126 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Veralto by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 15,282 shares of the company’s stock valued at $1,709,000 after purchasing an additional 141 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction 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 owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,038 shares of company stock worth $3,989,693. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $105.55 on Friday. Veralto Co. has a 1 year low of $69.09 and a 1 year high of $115.00. The stock has a market capitalization of $26.10 billion and a price-to-earnings ratio of 32.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company’s 50 day simple moving average is $109.24 and its 200 day simple moving average is $103.71.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 0.34%. Veralto’s dividend payout ratio (DPR) is currently 11.11%.

Analysts Set New Price Targets

Several research firms have weighed in on VLTO. Stifel Nicolaus increased their price objective on 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 raised their price target 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 initiated coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Robert W. Baird increased their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Hold” and an average target price of $108.27.

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.