Apollon Wealth Management LLC Grows Stake in Veralto Co. (NYSE:VLTO)

Apollon Wealth Management LLC raised its stake in Veralto Co. (NYSE:VLTO) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,479 shares of the company’s stock after purchasing an additional 995 shares during the quarter. Apollon Wealth Management LLC’s holdings in Veralto were worth $837,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Veralto during the third quarter valued at about $210,000. Ashton Thomas Securities LLC bought a new position in Veralto in the third quarter worth about $25,000. Los Angeles Capital Management LLC lifted its holdings in Veralto by 24.8% in the third quarter. Los Angeles Capital Management LLC now owns 6,787 shares of the company’s stock worth $759,000 after acquiring an additional 1,350 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Veralto by 2.1% in the third quarter. Crossmark Global Holdings Inc. now owns 12,900 shares of the company’s stock worth $1,443,000 after acquiring an additional 261 shares during the last quarter. Finally, RKL Wealth Management LLC bought a new stake in shares of Veralto during the third quarter valued at approximately $325,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Performance

NYSE:VLTO opened at $102.68 on Friday. The firm’s 50-day moving average is $108.69 and its 200-day moving average is $104.00. Veralto Co. has a 52-week low of $70.06 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a market cap of $25.39 billion and a price-to-earnings ratio of 31.69.

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

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were paid a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. Veralto’s payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VLTO. Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. Stifel Nicolaus boosted their price target on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $108.27.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,038 shares of company stock valued at $3,989,693 over the last quarter. 0.31% of the stock is owned by company insiders.

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.