Fiduciary Trust Co Increases Stake in Veralto Co. (NYSE:VLTO)

Fiduciary Trust Co grew its stake in shares of Veralto Co. (NYSE:VLTO) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,809 shares of the company’s stock after purchasing an additional 1,140 shares during the quarter. Fiduciary Trust Co’s holdings in Veralto were worth $1,321,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,448 shares of company stock valued at $1,698,675. Corporate insiders own 0.31% of the company’s stock.

Veralto Trading Up 0.2 %

NYSE:VLTO opened at $108.22 on Friday. The company has a market cap of $26.76 billion and a PE ratio of 33.40. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The company has a 50 day simple moving average of $108.00 and a two-hundred day simple moving average of $104.81. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Veralto’s revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on VLTO shares. Stifel Nicolaus upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada increased their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.