Verdence Capital Advisors LLC Has $1.31 Million Holdings in Veralto Corporation (NYSE:VLTO)

Verdence Capital Advisors LLC increased its holdings in Veralto Corporation (NYSE:VLTO) by 17.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,457 shares of the company’s stock after buying an additional 2,015 shares during the period. Verdence Capital Advisors LLC’s holdings in Veralto were worth $1,311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of VLTO. Bernard Wealth Management Corp. bought a new position in shares of Veralto in the fourth quarter worth approximately $25,000. Lee Danner & Bass Inc. acquired a new stake in Veralto in the 4th quarter worth approximately $43,000. Murphy & Mullick Capital Management Corp acquired a new stake in Veralto during the 4th quarter valued at approximately $44,000. Opal Wealth Advisors LLC purchased a new position in shares of Veralto during the 1st quarter valued at approximately $45,000. Finally, Grove Bank & Trust grew its holdings in shares of Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company’s stock worth $50,000 after buying an additional 339 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on VLTO shares. Stifel Nicolaus lifted their price target on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Robert W. Baird boosted their price objective on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Royal Bank Of Canada increased their price target on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Citigroup dropped their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Northcoast Research assumed coverage on Veralto in a report on Tuesday, May 6th. They set a “buy” rating and a $110.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Veralto has an average rating of “Hold” and an average price target of $110.09.

Insider Buying and Selling

In other news, CEO Jennifer Honeycutt sold 10,418 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total value of $989,710.00. Following the completion of the sale, the chief executive officer directly owned 106,219 shares of the company’s stock, valued at approximately $10,090,805. This trade represents a 8.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mattias Bystrom sold 2,500 shares of Veralto stock in a transaction on Monday, May 12th. The stock was sold at an average price of $99.96, for a total transaction of $249,900.00. Following the transaction, the senior vice president owned 32,430 shares in the company, valued at $3,241,702.80. This represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,913 shares of company stock valued at $4,339,370 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.

Veralto Stock Up 2.5%

VLTO stock opened at $102.99 on Friday. Veralto Corporation has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The firm’s 50-day simple moving average is $100.48 and its 200 day simple moving average is $98.44. The stock has a market cap of $25.53 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 4.03 and a beta of 0.91.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, sell-side analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto’s dividend payout ratio (DPR) is currently 12.57%.

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.