Brown Brothers Harriman & Co. Grows Position in Veralto Co. (NYSE:VLTO)

Brown Brothers Harriman & Co. boosted its stake in Veralto Co. (NYSE:VLTO) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,851 shares of the company’s stock after buying an additional 99 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Veralto were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VLTO. PEAK6 Investments LLC raised its position in Veralto by 20.7% in the 1st quarter. PEAK6 Investments LLC now owns 2,655 shares of the company’s stock valued at $235,000 after buying an additional 456 shares during the last quarter. Tidal Investments LLC grew its stake in Veralto by 40.8% in the 1st quarter. Tidal Investments LLC now owns 14,855 shares of the company’s stock valued at $1,317,000 after purchasing an additional 4,303 shares during the period. Virtu Financial LLC bought a new position in Veralto in the 1st quarter valued at $642,000. Cetera Investment Advisers grew its stake in Veralto by 247.8% in the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after purchasing an additional 34,505 shares during the period. Finally, Cetera Advisors LLC grew its stake in Veralto by 90.2% in the 1st quarter. Cetera Advisors LLC now owns 11,624 shares of the company’s stock valued at $1,031,000 after purchasing an additional 5,511 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Up 0.0 %

Shares of NYSE VLTO opened at $107.97 on Thursday. Veralto Co. has a 52 week low of $72.85 and a 52 week high of $115.00. The business has a 50-day simple moving average of $108.06 and a two-hundred day simple moving average of $104.70. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company has a market cap of $26.70 billion and a P/E ratio of 33.32.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. Veralto’s payout ratio is currently 11.11%.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s 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 transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares in the company, valued at approximately $1,324,089.80. This represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,639 shares of company stock valued at $3,175,803 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VLTO. Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target 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 increased their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, UBS Group initiated coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.