Veralto Co. (NYSE:VLTO) Shares Purchased by Hartford Investment Management Co.

Hartford Investment Management Co. increased its position in shares of Veralto Co. (NYSE:VLTO) by 10.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,564 shares of the company’s stock after purchasing an additional 1,496 shares during the quarter. Hartford Investment Management Co.’s holdings in Veralto were worth $1,741,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC purchased a new stake in shares of Veralto during the second quarter worth $26,000. Fairscale Capital LLC acquired a new position in Veralto during the second quarter worth about $30,000. Raleigh Capital Management Inc. grew its stake in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. LRI Investments LLC acquired a new stake in Veralto in the 1st quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction 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 transaction, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock worth $4,310,335 in the last three months. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Royal Bank of Canada raised their target price on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, TD Cowen boosted their target price 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $108.00.

Veralto Price Performance

Veralto stock opened at $105.77 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The company has a market capitalization of $26.11 billion and a price-to-earnings ratio of 33.16. The company’s 50 day simple moving average is $110.91 and its 200-day simple moving average is $102.60. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, September 27th. Veralto’s payout ratio is 11.29%.

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.