Goodman Advisory Group LLC Invests $26,000 in Veralto Co. (NYSE:VLTO)

Goodman Advisory Group LLC purchased a new stake in Veralto Co. (NYSE:VLTO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 276 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently modified their holdings of VLTO. Vanguard Group Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $2,127,330,000. Capital International Investors acquired a new position in Veralto in the 4th quarter worth about $538,324,000. Swedbank AB acquired a new stake in Veralto during the 1st quarter worth approximately $237,864,000. Northern Trust Corp lifted its holdings in shares of Veralto by 33,575.5% during the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock worth $207,318,000 after purchasing an additional 2,512,791 shares during the period. Finally, Rudius Management LP grew its position in shares of Veralto by 28,658.9% in the 4th quarter. Rudius Management LP now owns 1,723,232 shares of the company’s stock valued at $141,753,000 after buying an additional 1,717,240 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction 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 directly owns 12,671 shares in the company, valued at $1,352,249.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Performance

NYSE VLTO opened at $110.30 on Friday. The stock has a market capitalization of $27.23 billion and a PE ratio of 29.65. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $112.77. The company’s 50 day simple moving average is $107.91 and its two-hundred day simple moving average is $99.35. 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 (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.80 EPS. Analysts predict that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 9.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VLTO shares. Royal Bank of Canada boosted their target price on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. TD Cowen lifted their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird increased their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus boosted their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, UBS Group initiated coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Veralto presently has an average rating of “Moderate Buy” and a consensus price target of $104.46.

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.