StoneRidge PMG Advisors LLC Purchases 4,441 Shares of Veralto Corporation $VLTO

StoneRidge PMG Advisors LLC purchased a new stake in shares of Veralto Corporation (NYSE:VLTO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,441 shares of the company’s stock, valued at approximately $419,000.

Other hedge funds have also recently modified their holdings of the company. Highland Investment Advisors LLC acquired a new stake in shares of Veralto during the second quarter valued at about $32,000. Provenance Wealth Advisors LLC lifted its holdings in shares of Veralto by 997.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock worth $40,000 after acquiring an additional 389 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Veralto in the 3rd quarter worth approximately $42,000. Latitude Advisors LLC acquired a new position in shares of Veralto in the 3rd quarter worth approximately $47,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Veralto during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, SVP Mattias Byström sold 9,069 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total value of $1,054,724.70. Following the sale, the senior vice president owned 35,536 shares of the company’s stock, valued at $4,132,836.80. This trade represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 36,427 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $108.89, for a total transaction of $3,966,536.03. Following the completion of the sale, the senior vice president directly owned 8,565 shares in the company, valued at approximately $932,642.85. This trade represents a 80.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 55,094 shares of company stock valued at $6,032,688. Corporate insiders own 0.43% of the company’s stock.

Veralto Trading Down 0.0%

NYSE:VLTO opened at $117.06 on Monday. The firm has a market cap of $28.46 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 3.25 and a beta of 0.51. The stock has a fifty day moving average price of $100.00 and a 200 day moving average price of $93.49. Veralto Corporation has a 12-month low of $80.03 and a 12-month high of $119.03. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, October 29th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.09 by $0.09. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a return on equity of 35.08% and a net margin of 17.27%. Veralto’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. Sell-side analysts anticipate that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s payout ratio is currently 12.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wolfe Research started coverage on Veralto in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 target price for the company. UBS Group increased their price target on shares of Veralto from $104.00 to $106.00 and gave the stock a “neutral” rating in a research report on Monday, October 5th. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 price objective on shares of Veralto in a research note on Friday, October 30th. Wall Street Zen cut shares of Veralto from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Royal Bank Of Canada upped their target price on shares of Veralto from $109.00 to $121.00 and gave the stock a “sector perform” rating in a research note on Monday, November 2nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.70.

About Veralto

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging.

Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.