Proficio Capital Partners LLC Makes New $84,000 Investment in Veralto Co. (NYSE:VLTO)

Proficio Capital Partners LLC acquired a new stake in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, Holdings Channel reports. The firm acquired 83,619 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of VLTO. Thrivent Financial for Lutherans lifted its stake in shares of Veralto by 4.3% in the third quarter. Thrivent Financial for Lutherans now owns 13,475 shares of the company’s stock valued at $1,507,000 after buying an additional 560 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Veralto by 562.3% in the 3rd quarter. Larson Financial Group LLC now owns 755 shares of the company’s stock worth $84,000 after acquiring an additional 641 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Veralto by 10.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after acquiring an additional 15,048 shares in the last quarter. FMR LLC boosted its stake in Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after purchasing an additional 162,347 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in Veralto by 113.4% during the 3rd quarter. Townsquare Capital LLC now owns 4,754 shares of the company’s stock worth $532,000 after purchasing an additional 2,526 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the transaction, the chief executive officer now owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. This trade represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,881 shares of company stock worth $2,176,770 in the last 90 days. 0.31% of the stock is owned by company insiders.

Veralto Trading Down 2.0 %

Shares of VLTO opened at $95.97 on Friday. The business has a 50-day moving average of $99.48 and a 200 day moving average of $104.01. Veralto Co. has a fifty-two week low of $85.91 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm has a market cap of $23.76 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, research analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.46%. Veralto’s payout ratio is 13.17%.

Analyst Ratings Changes

VLTO has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Citigroup dropped their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus reduced their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Veralto currently has an average rating of “Hold” and a consensus target price of $113.50.

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.