FORA Capital LLC Makes New Investment in Veralto Co. (NYSE:VLTO)

FORA Capital LLC acquired a new stake in Veralto Co. (NYSE:VLTO) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 49,655 shares of the company’s stock, valued at approximately $5,554,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MetLife Investment Management LLC boosted its stake in shares of Veralto by 7.9% in the 3rd quarter. MetLife Investment Management LLC now owns 69,306 shares of the company’s stock valued at $7,753,000 after purchasing an additional 5,070 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Veralto in the third quarter valued at approximately $453,000. Glenmede Trust Co. NA boosted its stake in Veralto by 8.5% in the third quarter. Glenmede Trust Co. NA now owns 5,947 shares of the company’s stock valued at $665,000 after acquiring an additional 465 shares during the last quarter. Townsquare Capital LLC grew its holdings in Veralto by 113.4% during the 3rd quarter. Townsquare Capital LLC now owns 4,754 shares of the company’s stock worth $532,000 after acquiring an additional 2,526 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Veralto during the 3rd quarter valued at $182,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 11,918 shares in the company, valued at approximately $1,324,089.80. This represents a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,639 shares of company stock worth $3,175,803. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VLTO has been the topic of several recent research reports. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Stifel Nicolaus raised their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. Royal Bank of Canada increased their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, TD Cowen boosted their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Stock Up 0.5 %

VLTO stock traded up $0.58 during mid-day trading on Wednesday, hitting $108.54. 46,210 shares of the company were exchanged, compared to its average volume of 1,534,750. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a 1-year low of $72.85 and a 1-year high of $115.00. The firm’s 50 day simple moving average is $108.06 and its 200 day simple moving average is $104.67. The firm has a market cap of $26.84 billion and a P/E ratio of 33.32.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. On average, sell-side 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 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 0.33%. Veralto’s dividend payout ratio is currently 11.11%.

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.