Northeast Investment Management Sells 483 Shares of Veralto Co. (NYSE:VLTO)

Northeast Investment Management cut its position in shares of Veralto Co. (NYSE:VLTO) by 19.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,052 shares of the company’s stock after selling 483 shares during the period. Northeast Investment Management’s holdings in Veralto were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goodman Advisory Group LLC bought a new position in shares of Veralto in the 2nd quarter worth $26,000. Fairscale Capital LLC purchased a new stake in Veralto during the 2nd quarter valued at about $30,000. Raleigh Capital Management Inc. grew its stake in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares during the last quarter. LRI Investments LLC purchased a new stake in Veralto during the 1st quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Veralto by 11,100.0% during 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 last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

Shares of Veralto stock opened at $101.59 on Monday. The business has a 50 day simple moving average of $110.01 and a two-hundred day simple moving average of $103.41. Veralto Co. has a 12 month low of $66.69 and a 12 month high of $115.00. The stock has a market capitalization of $25.12 billion and a P/E ratio of 31.35. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

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

Analyst Ratings Changes

VLTO has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group started coverage on 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 upped their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $108.27.

Insider Activity

In other news, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,286 shares of company stock worth $3,912,305 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Veralto Company 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.