Cim Investment Management Inc. Takes $469,000 Position in Veralto Co. (NYSE:VLTO)

Cim Investment Management Inc. purchased a new position in shares of Veralto Co. (NYSE:VLTO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,192 shares of the company’s stock, valued at approximately $469,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC purchased a new position in Veralto in the second quarter worth approximately $26,000. Fairscale Capital LLC acquired a new stake in Veralto during the second quarter worth $30,000. Hazlett Burt & Watson Inc. raised its position in Veralto by 11,100.0% in the second 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 period. Finally, Raleigh Capital Management Inc. raised its holdings in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday. They set a “buy” rating and a $125.00 price objective for the company. Stifel Nicolaus decreased their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Veralto has an average rating of “Hold” and a consensus target price of $109.50.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The stock was 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 in the company, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,695 shares of company stock valued at $1,615,017. 0.31% of the stock is owned by company insiders.

Veralto Trading Up 0.4 %

NYSE:VLTO opened at $105.81 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The stock’s 50 day moving average price is $107.29 and its 200 day moving average price is $105.24. The company has a market capitalization of $26.17 billion, a PE ratio of 32.66, a P/E/G ratio of 4.35 and a beta of 0.91.

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 net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company posted $0.75 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is presently 11.11%.

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.