Sanctuary Advisors LLC Decreases Stock Holdings in Veralto Co. (NYSE:VLTO)

Sanctuary Advisors LLC cut its stake in Veralto Co. (NYSE:VLTO) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,700 shares of the company’s stock after selling 3,344 shares during the period. Sanctuary Advisors LLC’s holdings in Veralto were worth $1,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto in the 3rd quarter worth about $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the second quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in shares of Veralto in the second quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its position in shares of 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 last quarter. Finally, Raleigh Capital Management Inc. increased its stake in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VLTO. Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group assumed coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus cut their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.50.

Veralto Price Performance

Veralto stock opened at $101.33 on Friday. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm has a 50 day moving average price of $106.27 and a 200 day moving average price of $105.35. The company has a market cap of $25.06 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 4.30 and a beta of 0.91.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. Sell-side analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is 11.11%.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction on Monday, September 30th. The stock was 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 directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,695 shares of company stock valued at $1,615,017 in the last three months. Corporate insiders own 0.31% of the company’s stock.

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.