Lake Street Advisors Group LLC Has $324,000 Stock Position in Veralto Co. (NYSE:VLTO)

Lake Street Advisors Group LLC boosted its stake in shares of Veralto Co. (NYSE:VLTO) by 11.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,894 shares of the company’s stock after buying an additional 291 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Veralto were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Swedbank AB acquired a new position in shares of Veralto during the 1st quarter worth approximately $237,864,000. Vanguard Group Inc. raised its position in shares of Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after purchasing an additional 1,568,103 shares during the period. Capital International Investors raised its position in shares of Veralto by 8.5% in the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after purchasing an additional 553,021 shares during the period. Nordea Investment Management AB lifted its stake in shares of Veralto by 753.8% during the 1st quarter. Nordea Investment Management AB now owns 527,040 shares of the company’s stock worth $47,154,000 after buying an additional 465,312 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in shares of Veralto during the 2nd quarter worth about $39,343,000. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VLTO has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price 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. Finally, The Goldman Sachs Group raised their price target 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. Seven research 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, the company currently has an average rating of “Hold” and an average target price of $108.27.

Veralto Stock Down 1.6 %

Shares of VLTO opened at $104.05 on Friday. The firm has a 50 day simple moving average of $110.75 and a two-hundred day simple moving average of $102.73. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. Veralto Co. has a one year low of $65.51 and a one year high of $115.00. The company has a market cap of $25.68 billion and a P/E ratio of 32.62.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. Veralto’s revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Veralto Co. will post 3.46 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.29%.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock worth $4,310,335 in the last three months. 0.31% of the stock is owned by corporate insiders.

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.