Headinvest LLC Reduces Stake in Veralto Co. (NYSE:VLTO)

Headinvest LLC lowered its stake in shares of Veralto Co. (NYSE:VLTO) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,332 shares of the company’s stock after selling 166 shares during the period. Headinvest LLC’s holdings in Veralto were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its holdings in Veralto by 32.9% during the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock valued at $23,256,000 after purchasing an additional 60,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Veralto by 126.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock valued at $6,460,000 after buying an additional 37,721 shares in the last quarter. PGGM Investments bought a new position in Veralto in the 2nd quarter worth approximately $1,528,000. Mirova US LLC grew its stake in Veralto by 2.2% in the 2nd quarter. Mirova US LLC now owns 1,055,767 shares of the company’s stock valued at $100,794,000 after buying an additional 22,324 shares in the last quarter. Finally, Northstar Asset Management Inc. raised its holdings in Veralto by 22.5% during the 3rd quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock valued at $8,762,000 after acquiring an additional 14,398 shares during the period. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 1.2 %

Shares of Veralto stock opened at $106.53 on Monday. The company has a 50 day simple moving average of $107.58 and a two-hundred day simple moving average of $105.16. The firm has a market cap of $26.35 billion, a PE ratio of 32.88, a PEG ratio of 4.39 and a beta of 0.91. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00. 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 earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction dated Monday, September 30th. The stock was 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 directly owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,695 shares of company stock valued at $1,615,017 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Stifel Nicolaus upped their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.