Violich Capital Management Inc. Purchases 200 Shares of Veralto Co. (NYSE:VLTO)

Violich Capital Management Inc. boosted its position in Veralto Co. (NYSE:VLTO) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,978 shares of the company’s stock after buying an additional 200 shares during the period. Violich Capital Management Inc.’s holdings in Veralto were worth $669,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in 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 buying an additional 1,568,103 shares during the period. Capital International Investors increased its position in Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after buying an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after buying an additional 200,657 shares during the period. Swedbank AB boosted its holdings in Veralto by 4.9% in the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after acquiring an additional 132,105 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Veralto by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after acquiring an additional 24,246 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Performance

Shares of VLTO stock opened at $113.60 on Monday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $114.61. The stock has a market capitalization of $28.04 billion and a P/E ratio of 35.61. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $110.66 and its 200 day moving average is $102.18.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio is currently 11.29%.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction 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 transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock valued at $4,310,335 over the last three months. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VLTO shares. Robert W. Baird increased their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Royal Bank of Canada raised their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Stifel Nicolaus upped their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $108.00.

About Veralto

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.