EverSource Wealth Advisors LLC Increases Stock Position in Veralto Co. (NYSE:VLTO)

EverSource Wealth Advisors LLC raised its holdings in Veralto Co. (NYSE:VLTO) by 357.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 810 shares of the company’s stock after purchasing an additional 633 shares during the period. EverSource Wealth Advisors LLC’s holdings in Veralto were worth $76,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in shares of Veralto in the fourth quarter valued at about $26,000. First Command Advisory Services Inc. acquired a new stake in shares of Veralto during the fourth quarter worth $25,000. LRI Investments LLC purchased a new stake in shares of Veralto in the first quarter valued at $30,000. Delta Asset Management LLC TN increased its stake in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Veralto during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 2.7 %

VLTO stock traded up $2.76 during mid-day trading on Tuesday, hitting $104.75. 523,288 shares of the company were exchanged, compared to its average volume of 1,581,183. The firm has a fifty day simple moving average of $99.57 and a 200 day simple moving average of $92.45. The company has a market capitalization of $25.88 billion and a PE ratio of 31.67. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $107.86. 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 (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts forecast that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid 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 0.34%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts have commented on VLTO shares. Stifel Nicolaus lifted their price target on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. The Goldman Sachs Group boosted their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. TD Cowen raised their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their price target 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. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.33.

About Veralto

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.