GAMMA Investing LLC Purchases 1,390 Shares of Veralto Co. (NYSE:VLTO)

GAMMA Investing LLC grew its position in shares of Veralto Co. (NYSE:VLTO) by 79.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,133 shares of the company’s stock after buying an additional 1,390 shares during the quarter. GAMMA Investing LLC’s holdings in Veralto were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC increased its stake in shares of Veralto by 3.2% during the 1st quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock worth $352,000 after purchasing an additional 123 shares during the last quarter. Perkins Coie Trust Co increased its stake in shares of Veralto by 2.7% during the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock worth $618,000 after purchasing an additional 185 shares during the last quarter. Czech National Bank increased its stake in shares of Veralto by 0.5% during the 1st quarter. Czech National Bank now owns 38,585 shares of the company’s stock worth $3,421,000 after purchasing an additional 192 shares during the last quarter. Equitable Trust Co. increased its stake in shares of Veralto by 4.6% during the 1st quarter. Equitable Trust Co. now owns 4,880 shares of the company’s stock worth $433,000 after purchasing an additional 213 shares during the last quarter. Finally, Motco increased its stake in shares of Veralto by 53.7% during the 1st quarter. Motco now owns 610 shares of the company’s stock worth $54,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of Veralto stock traded down $2.85 during trading on Monday, hitting $101.99. The stock had a trading volume of 1,740,739 shares, compared to its average volume of 1,588,063. The firm has a market cap of $25.20 billion and a price-to-earnings ratio of 31.67. The company has a current ratio of 1.96, a quick ratio of 1.56 and a debt-to-equity ratio of 1.56. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $107.86. The business’s 50-day moving average is $99.58 and its 200 day moving average is $92.27.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.35%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VLTO shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Robert W. Baird boosted their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. The Goldman Sachs Group boosted their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their target price on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, TD Cowen boosted their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. Insiders sold a total of 4,055 shares of company stock worth $428,345 over the last three months. Company insiders own 0.31% of the company’s stock.

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.