Northstar Asset Management Inc. Buys 14,398 Shares of Veralto Co. (NYSE:VLTO)

06 Nov 2024, 13:17 by Michael Walen · The Markets Daily

Northstar Asset Management Inc. raised its stake in shares of Veralto Co. (NYSE:VLTO – Free Report) by 22.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,326 shares of the company’s stock after acquiring an additional 14,398 shares during the quarter. Veralto makes up 2.2% of Northstar Asset Management Inc.’s portfolio, making the stock its 23rd largest holding. Northstar Asset Management Inc.’s holdings in Veralto were worth $8,762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Direct Indexing L.P. grew its position in Veralto by 15.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,045 shares of the company’s stock worth $270,000 after acquiring an additional 414 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Veralto by 7.4% in the first quarter. Private Advisor Group LLC now owns 14,153 shares of the company’s stock valued at $1,255,000 after buying an additional 970 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Veralto by 12.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,264 shares of the company’s stock worth $467,000 after buying an additional 574 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Veralto by 9.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 34,290 shares of the company’s stock worth $3,040,000 after acquiring an additional 3,018 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Veralto in the 1st quarter valued at about $230,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Trading Up 1.2 %

NYSE VLTO opened at $103.61 on Wednesday. The stock has a market capitalization of $25.62 billion and a price-to-earnings ratio of 31.98. Veralto Co. has a 52 week low of $67.36 and a 52 week high of $115.00. The stock’s 50 day moving average price is $109.69 and its two-hundred day moving average price is $103.61. 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 (NYSE:VLTO – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.35%. Veralto’s payout ratio is presently 11.11%.

Wall Street Analyst Weigh In

A number of analysts recently commented on VLTO shares. Stifel Nicolaus lifted their price objective on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. The Goldman Sachs Group lifted their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. TD Cowen increased their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird boosted their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $108.27.

View Our Latest Research Report on Veralto

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 7,399 shares of the business’s 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,038 shares of company stock valued at $3,989,693. Insiders own 0.31% of the company’s stock.

Veralto Profile

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