Daymark Wealth Partners LLC Sells 304 Shares of Veralto Co. (NYSE:VLTO)

Daymark Wealth Partners LLC cut its holdings in Veralto Co. (NYSE:VLTO) by 10.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,739 shares of the company’s stock after selling 304 shares during the period. Daymark Wealth Partners LLC’s holdings in Veralto were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of VLTO. LRI Investments LLC bought a new stake in shares of Veralto during the first quarter valued at about $30,000. Fairscale Capital LLC bought a new stake in Veralto during the 2nd quarter worth approximately $30,000. Newbridge Financial Services Group Inc. purchased a new stake in Veralto in the 4th quarter worth approximately $32,000. Hazlett Burt & Watson Inc. boosted its holdings in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after purchasing an additional 333 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Veralto during the 1st quarter valued at $33,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s 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 sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 disclosure for this sale can be found here. Insiders sold 25,096 shares of company stock worth $2,772,707 in the last three months. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their price objective on 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 research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada boosted their price target on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Veralto currently has an average rating of “Moderate Buy” and an average target price of $104.46.

Veralto Stock Performance

NYSE VLTO opened at $110.30 on Friday. The firm has a market cap of $27.23 billion and a price-to-earnings ratio of 29.65. The company has a 50-day simple moving average of $108.15 and a two-hundred day simple moving average of $99.50. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $112.77.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (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 for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.80 EPS. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

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

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.