Integrated Wealth Concepts LLC Lowers Position in Veralto Co. (NYSE:VLTO)

Integrated Wealth Concepts LLC decreased its holdings in Veralto Co. (NYSE:VLTO) by 28.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,720 shares of the company’s stock after selling 1,100 shares during the period. Integrated Wealth Concepts LLC’s holdings in Veralto were worth $304,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in Veralto during the third quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the second quarter valued at about $26,000. Fairscale Capital LLC acquired a new position in Veralto during the 2nd quarter valued at about $30,000. Raleigh Capital Management Inc. lifted its stake in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VLTO shares. BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Jefferies Financial Group started coverage on Veralto in a research note on Thursday. They set a “buy” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus reduced their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target of $109.50.

Veralto Stock Up 0.4 %

VLTO stock opened at $105.81 on Friday. The business has a 50-day moving average of $107.29 and a 200-day moving average of $105.24. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. The stock has a market capitalization of $26.17 billion, a P/E ratio of 32.66, a P/E/G ratio of 4.39 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, sell-side analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 0.34%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction that occurred 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 sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $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. Insiders have sold 14,695 shares of company stock worth $1,615,017 in the last ninety days. Insiders own 0.31% of the company’s stock.

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.