Leavell Investment Management Inc. Makes New $205,000 Investment in Veralto Corporation $VLTO

Leavell Investment Management Inc. acquired a new position in shares of Veralto Corporation (NYSE:VLTO) in the second quarter, HoldingsChannel reports. The institutional investor acquired 2,030 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company’s stock valued at $352,000 after buying an additional 479 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Veralto by 1.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company’s stock valued at $856,000 after buying an additional 113 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Veralto by 13.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,484 shares of the company’s stock valued at $437,000 after buying an additional 529 shares during the period. Spire Wealth Management boosted its stake in shares of Veralto by 15.6% in the first quarter. Spire Wealth Management now owns 3,172 shares of the company’s stock valued at $309,000 after buying an additional 428 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Veralto by 8.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,883 shares of the company’s stock valued at $3,062,000 after buying an additional 2,572 shares during the period. Institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James Financial assumed coverage on Veralto in a research note on Tuesday, August 26th. They issued a “market perform” rating for the company. Stifel Nicolaus set a $120.00 price target on Veralto and gave the company a “buy” rating in a research note on Wednesday, July 30th. Weiss Ratings upgraded Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wolfe Research upgraded shares of Veralto from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Veralto currently has an average rating of “Moderate Buy” and a consensus price target of $113.43.

Veralto Stock Down 0.4%

Shares of VLTO opened at $104.21 on Tuesday. Veralto Corporation has a one year low of $83.86 and a one year high of $110.11. The company has a market cap of $25.86 billion, a P/E ratio of 29.11, a P/E/G ratio of 3.45 and a beta of 0.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The firm has a 50 day simple moving average of $105.62 and a two-hundred day simple moving average of $101.83.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. Research analysts forecast that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. Veralto’s dividend payout ratio is 12.29%.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the completion of the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at approximately $11,286,830.94. This represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.36% of the company’s stock.

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.