Nwam LLC Invests $332,000 in Veralto Co. (NYSE:VLTO)

Nwam LLC purchased a new stake in Veralto Co. (NYSE:VLTO) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,965 shares of the company’s stock, valued at approximately $332,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the 3rd quarter worth about $25,000. Goodman Advisory Group LLC acquired a new position in shares of Veralto during the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new position in shares of Veralto during the first quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new position in shares of Veralto in the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $106.41 on Monday. The business’s fifty day simple moving average is $108.11 and its 200-day simple moving average is $104.50. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The firm has a market cap of $26.32 billion and a PE ratio of 32.84. Veralto Co. has a 52 week low of $72.23 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Veralto’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on VLTO. UBS Group initiated coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Robert W. Baird upped their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Stifel Nicolaus upped their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen lifted their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $108.27.

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.