Ferguson Wellman Capital Management Inc. Raises Stake in Veralto Co. (NYSE:VLTO)

by · The Cerbat Gem

Ferguson Wellman Capital Management Inc. increased its stake in Veralto Co. (NYSE:VLTO – Free Report) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 420,482 shares of the company’s stock after purchasing an additional 8,379 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Veralto were worth $47,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in Veralto during the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Veralto in the second quarter valued at approximately $26,000. Fairscale Capital LLC purchased a new position in shares of Veralto during the 2nd quarter worth approximately $30,000. Raleigh Capital Management Inc. raised its position in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Veralto in the 1st quarter valued at approximately $30,000. 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 stock in a transaction that occurred 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 sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,038 shares of company stock worth $3,989,693 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on VLTO. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. TD Cowen lifted 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. Stifel Nicolaus raised their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird boosted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Veralto currently has an average rating of “Hold” and an average target price of $108.27.

Get Our Latest Analysis on VLTO

Veralto Trading Down 2.2 %

Shares of VLTO traded down $2.27 during trading hours on Thursday, hitting $102.57. The stock had a trading volume of 94,301 shares, compared to its average volume of 1,529,835. The company’s fifty day simple moving average is $108.83 and its 200 day simple moving average is $104.01. Veralto Co. has a 12-month low of $70.06 and a 12-month high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm has a market cap of $25.37 billion and a P/E ratio of 32.35.

Veralto (NYSE:VLTO – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.75 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Veralto Profile

(Free Report)

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.

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