Welch & Forbes LLC Buys New Holdings in Veralto Corporation $VLTO

Welch & Forbes LLC purchased a new position in shares of Veralto Corporation (NYSE:VLTO) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,996 shares of the company’s stock, valued at approximately $754,000.

Several other large investors have also made changes to their positions in the company. M&G PLC raised its position in Veralto by 265.0% during the third quarter. M&G PLC now owns 826,232 shares of the company’s stock valued at $77,666,000 after purchasing an additional 599,850 shares in the last quarter. AlphaCore Capital LLC bought a new stake in Veralto during the third quarter worth $301,000. Allspring Global Investments Holdings LLC lifted its stake in Veralto by 11.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 93,546 shares of the company’s stock worth $8,849,000 after purchasing an additional 9,354 shares during the last quarter. StoneRidge PMG Advisors LLC acquired a new stake in shares of Veralto in the 3rd quarter valued at $419,000. Finally, Brighton Jones LLC boosted its holdings in shares of Veralto by 15.4% in the 3rd quarter. Brighton Jones LLC now owns 5,031 shares of the company’s stock valued at $475,000 after purchasing an additional 672 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the topic of several recent analyst reports. Barclays lifted their price target on Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. BNP Paribas Exane restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Veralto in a research report on Thursday, July 30th. Wall Street Zen lowered Veralto from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. UBS Group lifted their target price on Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Finally, Stifel Nicolaus lifted their target price on Veralto from $113.00 to $132.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average target price of $120.70.

Veralto Trading Up 0.2%

Shares of VLTO stock opened at $118.27 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. Veralto Corporation has a 1-year low of $80.03 and a 1-year high of $119.03. The stock has a 50-day moving average of $100.78 and a 200-day moving average of $93.66. The stock has a market cap of $28.76 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 3.27 and a beta of 0.51.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS. On average, equities research analysts forecast that Veralto Corporation will post 4.51 earnings per share for the current year.

Veralto Dividend Announcement

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

Insider Activity at Veralto

In other Veralto news, SVP Mattias Byström sold 9,069 shares of Veralto stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total value of $1,054,724.70. Following the completion of the sale, the senior vice president directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, CAO Bernard M. Skeete sold 1,514 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $112.58, for a total value of $170,446.12. Following the transaction, the chief accounting officer directly owned 4,760 shares in the company, valued at approximately $535,880.80. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 55,094 shares of company stock valued at $6,032,688. 0.43% of the stock is currently owned by company insiders.

Veralto Company Profile

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.