Forum Financial Management LP Purchases 294 Shares of Veralto Corporation $VLTO

Forum Financial Management LP grew its position in Veralto Corporation (NYSE:VLTO) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,511 shares of the company’s stock after purchasing an additional 294 shares during the period. Forum Financial Management LP’s holdings in Veralto were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VLTO. Harbor Asset Planning Inc. acquired a new stake in Veralto in the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC grew its stake in shares of Veralto by 148.5% during the 1st quarter. Truvestments Capital LLC now owns 328 shares of the company’s stock worth $32,000 after acquiring an additional 196 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Veralto in the second quarter valued at approximately $51,000. Cloud Capital Management LLC bought a new stake in shares of Veralto in the first quarter worth $64,000. Finally, Marshall & Sullivan Inc. WA acquired a new position in Veralto during the second quarter worth $74,000. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the completion of the sale, the chief executive officer owned 106,219 shares in the company, valued at $11,286,830.94. The trade was a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VLTO shares. Weiss Ratings upgraded shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Robert W. Baird lifted their target price on Veralto from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price target on Veralto and gave the company a “buy” rating in a research report on Wednesday, July 30th. Raymond James Financial started coverage on Veralto in a research note on Tuesday, August 26th. They issued a “market perform” rating for the company. Finally, Barclays lowered their price target on Veralto from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.43.

Veralto Stock Down 0.4%

VLTO stock opened at $104.21 on Tuesday. The firm has a market capitalization of $25.86 billion, a PE ratio of 29.11, a PEG ratio of 3.45 and a beta of 0.90. The business’s 50 day simple moving average is $105.62 and its 200 day simple moving average is $101.83. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $110.11.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%.The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. As a group, research analysts anticipate that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. Veralto’s dividend payout ratio is 12.29%.

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.