Veralto Corporation $VLTO Position Raised by AlphaQuest LLC

AlphaQuest LLC lifted its position in shares of Veralto Corporation (NYSE:VLTO) by 181.7% in the 3rd quarter, Holdings Channel reports. The fund owned 44,335 shares of the company’s stock after buying an additional 28,599 shares during the period. Veralto comprises 0.3% of AlphaQuest LLC’s investment portfolio, making the stock its 16th biggest holding. AlphaQuest LLC’s holdings in Veralto were worth $4,727,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new position in Veralto during the 2nd quarter valued at about $26,000. Root Financial Partners LLC acquired a new position in shares of Veralto during the third quarter worth approximately $27,000. Loomis Sayles & Co. L P acquired a new position in shares of Veralto during the second quarter worth approximately $28,000. True Wealth Design LLC grew its holdings in Veralto by 852.9% in the 3rd quarter. True Wealth Design LLC now owns 324 shares of the company’s stock worth $35,000 after buying an additional 290 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Veralto in the 2nd quarter valued at approximately $44,000. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of analyst reports. UBS Group boosted their price target on Veralto from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings downgraded shares of Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 31st. BMO Capital Markets decreased their target price on shares of Veralto from $123.00 to $114.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Citigroup dropped their price target on shares of Veralto from $112.00 to $111.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada increased their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target of $112.89.

Veralto Trading Down 0.1%

NYSE:VLTO opened at $98.61 on Friday. The stock has a fifty day simple moving average of $100.89 and a 200 day simple moving average of $103.02. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 2.81 and a beta of 0.88. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $110.11. The company has a quick ratio of 1.40, a current ratio of 1.57 and a debt-to-equity ratio of 0.69.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. Veralto had a net margin of 16.75% and a return on equity of 38.69%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. Sell-side analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Veralto’s previous quarterly dividend of $0.11. Veralto’s dividend payout ratio (DPR) is 14.25%.

Insider Transactions at Veralto

In other Veralto news, SVP Mattias Bystrom sold 1,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.73, for a total transaction of $101,730.00. Following the sale, the senior vice president directly owned 31,430 shares of the company’s stock, valued at $3,197,373.90. The trade was a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by company 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. This segment provides water solutions, including chemical reagents, services, and digital solutions.