Ayrshire Capital Management LLC Has $1.27 Million Holdings in Veralto Co. (NYSE:VLTO)

Ayrshire Capital Management LLC grew its position in shares of Veralto Co. (NYSE:VLTO) by 32.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,319 shares of the company’s stock after purchasing an additional 2,743 shares during the quarter. Ayrshire Capital Management LLC’s holdings in Veralto were worth $1,266,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after purchasing an additional 1,568,103 shares in the last quarter. Capital International Investors raised its position in shares of Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Veralto by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after acquiring an additional 200,657 shares during the last quarter. Swedbank AB raised its position in shares of Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after acquiring an additional 132,105 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Veralto by 1.7% during the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock worth $142,510,000 after acquiring an additional 24,246 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Up 1.1 %

Shares of NYSE:VLTO opened at $113.13 on Friday. The business’s 50 day moving average is $109.82 and its 200 day moving average is $101.20. 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 $114.18. The stock has a market cap of $27.93 billion and a price-to-earnings ratio of 35.46.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share 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 analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, sell-side 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. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.32%. Veralto’s dividend payout ratio is currently 11.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Finally, Stifel Nicolaus lifted their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $105.67.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,039 shares of company stock valued at $4,310,335. Insiders own 0.31% of the company’s stock.

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.