Thematics Asset Management Decreases Stake in Veralto Co. (NYSE:VLTO)

Thematics Asset Management lessened its position in shares of Veralto Co. (NYSE:VLTO) by 10.5% during the 3rd quarter, Holdings Channel reports. The firm owned 127,882 shares of the company’s stock after selling 15,000 shares during the quarter. Thematics Asset Management’s holdings in Veralto were worth $14,305,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Veralto during the third quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of Veralto during the 2nd quarter valued at approximately $26,000. Fairscale Capital LLC acquired a new position in shares of Veralto in the 2nd quarter valued at $30,000. Raleigh Capital Management Inc. boosted its holdings in Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Veralto during the first quarter valued at $30,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on VLTO. TD Cowen increased their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. UBS Group began coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Finally, Stifel Nicolaus raised their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $108.27.

Veralto Stock Down 0.1 %

VLTO traded down $0.14 during trading hours on Tuesday, hitting $108.34. 159,626 shares of the company’s stock were exchanged, compared to its average volume of 1,536,007. Veralto Co. has a 12-month low of $72.85 and a 12-month high of $115.00. The firm has a 50 day moving average of $108.08 and a 200 day moving average of $104.59. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a market cap of $26.79 billion and a P/E ratio of 33.48.

Veralto (NYSE:VLTO) last released its 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 firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s payout ratio is 11.11%.

Insider Activity at Veralto

In other Veralto 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 transaction of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value 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 trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,639 shares of company stock valued at $3,175,803 over the last three months. 0.31% of the stock is owned by corporate insiders.

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.