StoneRidge PMG Advisors LLC Buys 4,441 Shares of Veralto Corporation $VLTO

StoneRidge PMG Advisors LLC purchased a new stake in Veralto Corporation (NYSE:VLTO – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,441 shares of the company’s stock, valued at approximately $419,000.

A number of other institutional investors also recently bought and sold shares of the business. Highland Investment Advisors LLC purchased a new stake in Veralto during the 2nd quarter worth about $32,000. Provenance Wealth Advisors LLC boosted its position in shares of Veralto by 997.4% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock worth $40,000 after acquiring an additional 389 shares in the last quarter. Putney Financial Group LLC purchased a new position in shares of Veralto in the 3rd quarter valued at about $42,000. Latitude Advisors LLC purchased a new position in shares of Veralto in the 3rd quarter valued at about $47,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Veralto in the 1st quarter valued at about $66,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In related news, SVP Mattias Byström sold 9,069 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total transaction of $1,054,724.70. Following the sale, the senior vice president owned 35,536 shares of the company’s stock, valued at approximately $4,132,836.80. The trade was a 20.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 7,098 shares of the company’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $105.00, for a total transaction of $745,290.00. Following the transaction, the chief executive officer owned 120,060 shares in the company, valued at $12,606,300. The trade was a 5.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 55,094 shares of company stock worth $6,032,688. 0.43% of the stock is owned by company insiders.

Veralto Trading Down 0.0%

NYSE:VLTO opened at $117.06 on Monday. The stock has a fifty day moving average price of $100.00 and a two-hundred day moving average price of $93.49. The stock has a market capitalization of $28.46 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 3.25 and a beta of 0.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.82 and a current ratio of 2.03. Veralto Corporation has a 1 year low of $80.03 and a 1 year high of $119.03.

Veralto (NYSE:VLTO – Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.18 EPS 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 return on equity of 35.08% and a net margin of 17.27%. Veralto’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 earnings per share. As a group, sell-side analysts anticipate that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on VLTO shares. Wall Street Zen lowered shares of Veralto from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Stifel Nicolaus boosted their price objective on shares of Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Robert W. Baird set a $111.00 target price on shares of Veralto in a report on Thursday, July 30th. Weiss Ratings raised shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Finally, Wolfe Research assumed coverage on shares of Veralto in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.70.

Get Our Latest Analysis on Veralto

Veralto Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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