RKL Wealth Management LLC Acquires New Stake in Veralto Co. (NYSE:VLTO)

RKL Wealth Management LLC acquired a new stake in shares of Veralto Co. (NYSE:VLTO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,906 shares of the company’s stock, valued at approximately $325,000.

A number of other hedge funds have also made changes to their positions in VLTO. Goodman Advisory Group LLC acquired a new position in shares of Veralto during the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new position in shares of Veralto during the first quarter valued at approximately $30,000. Fairscale Capital LLC acquired a new position in shares of Veralto during the second quarter valued at approximately $30,000. Hazlett Burt & Watson Inc. increased its stake in shares of Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares during the period. Finally, Raleigh Capital Management Inc. grew its position in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VLTO. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Robert W. Baird lifted their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus lifted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $108.27.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,038 shares of company stock worth $3,989,693 in the last quarter. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Up 1.2 %

VLTO stock opened at $105.55 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. Veralto Co. has a 1 year low of $69.09 and a 1 year high of $115.00. The company has a fifty day simple moving average of $109.24 and a 200 day simple moving average of $103.71. The firm has a market cap of $26.10 billion and a PE ratio of 32.58.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during 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%. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. Sell-side analysts anticipate that Veralto Co. will post 3.48 EPS 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 issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.34%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

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.