Reynders McVeigh Capital Management LLC Increases Stock Holdings in Veralto Co. (NYSE:VLTO)

Reynders McVeigh Capital Management LLC boosted its position in Veralto Co. (NYSE:VLTO) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 286,119 shares of the company’s stock after purchasing an additional 7,628 shares during the period. Veralto comprises about 1.7% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Veralto were worth $32,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after buying an additional 34,505 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Veralto by 90.2% in the 1st quarter. Cetera Advisors LLC now owns 11,624 shares of the company’s stock worth $1,031,000 after purchasing an additional 5,511 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Veralto by 357.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 810 shares of the company’s stock worth $76,000 after purchasing an additional 633 shares in the last quarter. First Hawaiian Bank bought a new stake in Veralto in the 2nd quarter worth approximately $260,000. Finally, Mather Group LLC. increased its stake in Veralto by 42.9% in the 2nd quarter. Mather Group LLC. now owns 570 shares of the company’s stock worth $51,000 after acquiring an additional 171 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 value of $1,452,878.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,695 shares of company stock valued at $1,615,017. Company insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of VLTO stock opened at $107.31 on Wednesday. Veralto Co. has a twelve month low of $73.91 and a twelve month high of $115.00. The stock has a market capitalization of $26.54 billion, a price-to-earnings ratio of 33.12, a P/E/G ratio of 4.40 and a beta of 0.91. The stock has a fifty day simple moving average of $107.85 and a two-hundred day simple moving average of $105.02. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is presently 11.11%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Company 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.