Farther Finance Advisors LLC Acquires 333 Shares of Veralto Corporation (NYSE:VLTO)

Farther Finance Advisors LLC grew its stake in Veralto Corporation (NYSE:VLTO) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,938 shares of the company’s stock after buying an additional 333 shares during the period. Farther Finance Advisors LLC’s holdings in Veralto were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new stake in Veralto during the fourth quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in shares of Veralto in the fourth quarter valued at approximately $26,000. BankPlus Trust Department bought a new position in shares of Veralto in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. bought a new position in shares of Veralto in the fourth quarter valued at approximately $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Veralto in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VLTO. Stifel Nicolaus raised their target price on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Citigroup decreased their price target on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Robert W. Baird increased their price target on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Northcoast Research assumed coverage on Veralto in a research report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Royal Bank Of Canada lifted their price objective on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $110.09.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the transaction, the chief executive officer now directly owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. This represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the transaction, the senior vice president now directly owns 8,433 shares in the company, valued at $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,917 shares of company stock valued at $5,423,033 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

Veralto Trading Down 0.4%

NYSE VLTO opened at $97.41 on Wednesday. Veralto Corporation has a 1-year low of $83.87 and a 1-year high of $115.00. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average of $96.48 and a 200-day moving average of $98.92. The firm has a market cap of $24.14 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 4.21 and a beta of 0.97.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.84 EPS. Veralto’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s dividend payout ratio is currently 12.57%.

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.