Exchange Traded Concepts LLC Boosts Stock Holdings in Veralto Co. (NYSE:VLTO)

Exchange Traded Concepts LLC grew its position in Veralto Co. (NYSE:VLTO) by 510.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,279 shares of the company’s stock after purchasing an additional 27,830 shares during the period. Exchange Traded Concepts LLC’s holdings in Veralto were worth $3,389,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Veralto during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new stake in Veralto during the second quarter worth $26,000. Raleigh Capital Management Inc. boosted its position in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Albion Financial Group UT grew its stake in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Veralto during the 3rd quarter valued at $46,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Performance

NYSE:VLTO opened at $101.79 on Friday. The business’s fifty day moving average is $103.97 and its 200 day moving average is $106.02. The firm has a market cap of $25.17 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 4.31 and a beta of 1.06. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a 52-week low of $75.05 and a 52-week high of $115.00.

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

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.43%. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is presently 13.58%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Stifel Nicolaus lowered their price target on shares of Veralto from $117.00 to $116.00 and set a “buy” rating on the stock in a report on Friday. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.18.

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.