Highline Wealth Partners LLC Takes $273,000 Position in Veralto Co. (NYSE:VLTO)

Highline Wealth Partners LLC acquired a new position in Veralto Co. (NYSE:VLTO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,441 shares of the company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VLTO. Goodman Advisory Group LLC purchased a new stake in shares of Veralto in the 2nd quarter valued at about $26,000. Fairscale Capital LLC bought a new position in shares of Veralto in the second quarter worth approximately $30,000. Raleigh Capital Management Inc. raised its stake in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares in the last quarter. LRI Investments LLC bought a new stake in Veralto during the first quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after buying an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,039 shares of company stock worth $3,992,665 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. Royal Bank of Canada raised 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. Stifel Nicolaus lifted their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird increased their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets raised their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Veralto presently has an average rating of “Hold” and a consensus target price of $108.27.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $103.49 on Wednesday. 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 company has a 50-day moving average price of $110.52 and a 200-day moving average price of $103.16. The company has a market cap of $25.55 billion and a price-to-earnings ratio of 31.94. Veralto Co. has a 12 month low of $66.69 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, equities analysts anticipate that Veralto Co. will post 3.47 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto’s payout ratio is 11.11%.

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.