RKL Wealth Management LLC Purchases Shares of 2,906 Veralto Co. (NYSE:VLTO)

RKL Wealth Management LLC purchased a new stake in Veralto Co. (NYSE:VLTO) during the third quarter, HoldingsChannel.com reports. The firm purchased 2,906 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after buying an additional 1,568,103 shares in the last quarter. Capital International Investors boosted its position in Veralto by 8.5% in the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after buying an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Veralto by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after buying an additional 200,657 shares in the last quarter. Swedbank AB boosted its position in Veralto by 4.9% in the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after buying an additional 132,105 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Veralto by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after buying an additional 24,246 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VLTO has been the topic 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 research report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Robert W. Baird upped their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, UBS Group initiated coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Seven investment 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 currently has an average rating of “Hold” and an average target price of $108.27.

Veralto Trading Up 1.2 %

VLTO opened at $105.55 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company has a market cap of $26.10 billion and a price-to-earnings ratio of 32.58. The firm has a 50 day simple moving average of $109.24 and a 200 day simple moving average of $103.71. Veralto Co. has a fifty-two week low of $69.09 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. Veralto’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

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

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,038 shares of company stock valued at $3,989,693. Corporate insiders own 0.31% of the company’s stock.

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.