Veralto Co. (NYSE:VLTO) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its stake in Veralto Co. (NYSE:VLTO) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,041 shares of the company’s stock after purchasing an additional 195 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Veralto were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Veralto in the third quarter valued at approximately $25,000. Goodman Advisory Group LLC acquired a new position in shares of Veralto in the 2nd quarter valued at $26,000. LRI Investments LLC purchased a new stake in Veralto during the first quarter worth $30,000. Fairscale Capital LLC acquired a new stake in Veralto during the second quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the transaction, the senior vice president now owns 11,918 shares of the company’s stock, valued at $1,324,089.80. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Up 0.9 %

Shares of VLTO opened at $106.01 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a market cap of $26.22 billion and a P/E ratio of 32.72. The company’s 50-day moving average price is $108.18 and its 200 day moving average price is $104.33. Veralto Co. has a 12-month low of $72.23 and a 12-month high of $115.00.

Veralto (NYSE:VLTO) last issued 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. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s payout ratio is 11.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VLTO shares. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Robert W. Baird boosted their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada boosted their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a 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 company a “buy” rating in a report on Wednesday, October 16th. Seven equities research 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.com, Veralto presently has an average rating of “Hold” and an average price target of $108.27.

Veralto Company 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.