Welch & Forbes LLC Purchases New Stake in Veralto Corporation $VLTO

Welch & Forbes LLC acquired a new position in shares of Veralto Corporation (NYSE:VLTO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,996 shares of the company’s stock, valued at approximately $754,000.

Several other large investors also recently made changes to their positions in the stock. M&G PLC lifted its stake in Veralto by 265.0% in the third quarter. M&G PLC now owns 826,232 shares of the company’s stock valued at $77,666,000 after acquiring an additional 599,850 shares during the last quarter. AlphaCore Capital LLC bought a new position in shares of Veralto in the 3rd quarter valued at about $301,000. Allspring Global Investments Holdings LLC increased its stake in shares of Veralto by 11.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 93,546 shares of the company’s stock worth $8,849,000 after purchasing an additional 9,354 shares during the last quarter. StoneRidge PMG Advisors LLC acquired a new position in shares of Veralto during the 3rd quarter worth about $419,000. Finally, Brighton Jones LLC increased its stake in shares of Veralto by 15.4% during the 3rd quarter. Brighton Jones LLC now owns 5,031 shares of the company’s stock worth $475,000 after purchasing an additional 672 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jennifer Honeycutt sold 7,098 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $105.00, for a total transaction of $745,290.00. Following the sale, the chief executive officer directly owned 120,060 shares of the company’s stock, valued at approximately $12,606,300. This represents a 5.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mattias Byström sold 9,069 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $116.30, for a total value of $1,054,724.70. Following the sale, the senior vice president directly owned 35,536 shares in the company, valued at approximately $4,132,836.80. This trade represents a 20.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,094 shares of company stock valued at $6,032,688 over the last 90 days. 0.43% of the stock is currently owned by insiders.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $118.27 on Wednesday. Veralto Corporation has a 12-month low of $80.03 and a 12-month high of $119.03. The company’s 50 day moving average price is $100.78 and its two-hundred day moving average price is $93.66. The firm has a market cap of $28.76 billion, a PE ratio of 29.28, a PEG ratio of 3.27 and a beta of 0.51. The company has a quick ratio of 1.82, a current ratio of 2.03 and a debt-to-equity ratio of 0.83.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. Equities research analysts predict that Veralto Corporation will post 4.51 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, September 30th. Veralto’s dividend payout ratio (DPR) is 12.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VLTO shares. Weiss Ratings raised shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price target on shares of Veralto in a report on Friday, October 30th. Stifel Nicolaus lifted their price target on Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Citigroup boosted their price target on Veralto from $107.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. Finally, Wolfe Research started coverage on Veralto in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Veralto currently has an average rating of “Moderate Buy” and an average price target of $120.70.

Veralto Company Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.