Beacon Investment Advisory Services Inc. Lowers Holdings in Veralto Co. (NYSE:VLTO)

Beacon Investment Advisory Services Inc. reduced its stake in shares of Veralto Co. (NYSE:VLTO) by 4.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 37,115 shares of the company’s stock after selling 1,769 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Veralto were worth $4,152,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 200,657 shares in the last quarter. FMR LLC lifted its holdings in Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after purchasing an additional 162,347 shares in the last quarter. Swedbank AB increased its stake in Veralto by 4.9% during the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after buying an additional 132,105 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Veralto by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,493 shares of the company’s stock valued at $259,458,000 after acquiring an additional 82,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Veralto by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company’s stock worth $173,351,000 after acquiring an additional 141,209 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Trading Up 0.2 %

VLTO opened at $108.19 on Monday. Veralto Co. has a 52 week low of $73.91 and a 52 week high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $108.00 and a 200-day simple moving average of $104.90. The firm has a market cap of $26.76 billion and a P/E ratio of 33.39.

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

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,448 shares of company stock valued at $1,698,675. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus target price of $108.27.

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.