Fairfield Financial Advisors LTD Acquires Shares of 2,845 Veralto Co. (NYSE:VLTO)

Fairfield Financial Advisors LTD bought a new position in Veralto Co. (NYSE:VLTO) during the second quarter, Holdings Channel reports. The fund bought 2,845 shares of the company’s stock, valued at approximately $272,000.

Several other institutional investors also recently modified their holdings of VLTO. Concourse Financial Group Securities Inc. bought a new position in shares of Veralto during the fourth quarter valued at approximately $43,000. Principal Securities Inc. bought a new position in Veralto during the 4th quarter valued at approximately $167,000. Teacher Retirement System of Texas purchased a new position in Veralto during the fourth quarter valued at $1,563,000. QRG Capital Management Inc. bought a new stake in Veralto in the fourth quarter worth $533,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Veralto in the fourth quarter worth $79,075,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 0.7 %

Shares of NYSE:VLTO opened at $110.02 on Monday. The stock’s 50-day simple moving average is $105.66 and its two-hundred day simple moving average is $98.12. The stock has a market capitalization of $27.19 billion and a price-to-earnings ratio of 33.02. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $112.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts expect that Veralto Co. will post 3.45 EPS for the current year.

Insider Buying and Selling

In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,096 shares of company stock valued at $2,772,707. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VLTO. UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. The Goldman Sachs Group upped their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Robert W. Baird raised their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, TD Cowen lifted their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

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.