1832 Asset Management L.P. Has $26,000 Position in Veralto Co. (NYSE:VLTO)

1832 Asset Management L.P. cut its holdings in Veralto Co. (NYSE:VLTO) by 58.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 272 shares of the company’s stock after selling 388 shares during the quarter. 1832 Asset Management L.P.’s holdings in Veralto were worth $26,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VLTO. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Veralto during the 4th quarter valued at about $1,507,000. Parallel Advisors LLC bought a new stake in Veralto during the fourth quarter worth approximately $264,000. Steward Partners Investment Advisory LLC acquired a new position in Veralto during the fourth quarter valued at approximately $376,000. TD Asset Management Inc bought a new position in shares of Veralto in the fourth quarter valued at approximately $33,129,000. Finally, Stifel Financial Corp acquired a new stake in shares of Veralto in the fourth quarter worth $18,073,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VLTO shares. Stifel Nicolaus upped their price objective on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group started 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. The Goldman Sachs Group upped their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Robert W. Baird upped their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $104.46.

Veralto Trading Down 0.8 %

Shares of VLTO stock opened at $110.30 on Friday. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $112.77. The stock has a market cap of $27.23 billion and a price-to-earnings ratio of 29.76. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The firm has a fifty day moving average of $107.91 and a 200-day moving average of $99.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Insider Activity

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the 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 owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $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 corporate insiders.

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.