ProShare Advisors LLC Purchases 4,507 Shares of Veralto Co. (NYSE:VLTO)

ProShare Advisors LLC lifted its position in shares of Veralto Co. (NYSE:VLTO) by 14.4% during the 4th quarter, HoldingsChannel reports. The firm owned 35,810 shares of the company’s stock after acquiring an additional 4,507 shares during the period. ProShare Advisors LLC’s holdings in Veralto were worth $3,647,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in VLTO. Bernard Wealth Management Corp. bought a new position in Veralto during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in Veralto in the 4th quarter valued at approximately $26,000. BankPlus Trust Department bought a new position in Veralto in the 4th quarter valued at approximately $29,000. Albion Financial Group UT lifted its position 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 acquiring an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Veralto in the 4th quarter valued at approximately $42,000. 91.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. This represents a 9.06% 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 Lesley Beneteau sold 458 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president now owns 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,073 shares of company stock worth $6,442,018. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several analyst reports. Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price objective on the stock. Stifel Nicolaus boosted their target price on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Robert W. Baird boosted their target price on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Royal Bank of Canada boosted their target price on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. Finally, Citigroup decreased their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and a consensus target price of $110.09.

Veralto Trading Up 0.4%

Shares of NYSE:VLTO opened at $102.11 on Tuesday. The stock has a market capitalization of $25.31 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock’s 50-day simple moving average is $94.53 and its two-hundred day simple moving average is $99.65. Veralto Co. has a 52-week low of $83.87 and a 52-week high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s payout ratio is presently 12.57%.

About Veralto

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.