DE Burlo Group Inc. Lowers Position in Veralto Co. (NYSE:VLTO)

DE Burlo Group Inc. lessened its stake in Veralto Co. (NYSE:VLTO) by 17.0% during the second quarter, Holdings Channel reports. The firm owned 5,513 shares of the company’s stock after selling 1,132 shares during the period. DE Burlo Group Inc.’s holdings in Veralto were worth $526,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VLTO. Orion Portfolio Solutions LLC purchased a new stake in Veralto in the 4th quarter valued at $3,202,000. Daiwa Securities Group Inc. grew its stake in shares of Veralto by 78.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock worth $7,151,000 after acquiring an additional 35,433 shares in the last quarter. Wells Fargo & Company MN purchased a new stake in shares of Veralto in the fourth quarter valued at about $25,633,000. Nomura Holdings Inc. bought a new position in shares of Veralto during the fourth quarter valued at about $717,000. Finally, Cetera Investment Advisers boosted its holdings in Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after purchasing an additional 34,505 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The disclosure for this sale can be found here. Insiders have sold a total of 25,096 shares of company stock worth $2,772,707 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of VLTO stock opened at $111.04 on Thursday. The firm’s 50 day moving average is $107.66 and its 200 day moving average is $99.26. The stock has a market capitalization of $27.44 billion and a P/E ratio of 33.31. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last posted 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. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. On average, sell-side analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th.

Analyst Ratings Changes

VLTO has been the subject of several analyst reports. Stifel Nicolaus increased their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note 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 on the stock. Robert W. Baird boosted their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.46.

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.