Fairfield Financial Advisors LTD Acquires New Shares in Veralto Co. (NYSE:VLTO)

Fairfield Financial Advisors LTD bought a new position in Veralto Co. (NYSE:VLTO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,845 shares of the company’s stock, valued at approximately $272,000.

A number of other hedge funds have also added to or reduced their stakes in VLTO. Orion Portfolio Solutions LLC bought a new position in shares of Veralto in the fourth quarter worth $3,202,000. Daiwa Securities Group Inc. raised its holdings in shares of Veralto by 78.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after acquiring an additional 35,433 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Veralto in the 4th quarter valued at about $79,075,000. Wells Fargo & Company MN bought a new stake in shares of Veralto during the 4th quarter valued at about $25,633,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Veralto during the fourth quarter worth about $717,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the transaction, the senior vice president now owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The disclosure for this sale can be found here. Insiders have sold 25,096 shares of company stock valued at $2,772,707 over the last ninety days. 0.31% of the stock is owned by insiders.

Veralto Stock Performance

NYSE:VLTO opened at $110.02 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $112.77. The firm has a market cap of $27.19 billion and a PE ratio of 33.02. The business has a 50 day moving average price of $105.66 and a 200-day moving average price of $98.12.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts predict that Veralto Co. will post 3.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

VLTO has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. TD Cowen raised their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Robert W. Baird upped their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus raised their price objective on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.46.

Veralto 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.