Thurston Springer Miller Herd & Titak Inc. Acquires 1,117 Shares of Veralto Co. (NYSE:VLTO)

Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Veralto Co. (NYSE:VLTO) by 37.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,079 shares of the company’s stock after acquiring an additional 1,117 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Veralto were worth $397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Veralto in the 4th quarter valued at about $289,028,000. First Trust Advisors LP lifted its position in Veralto by 222.3% during the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company’s stock valued at $265,054,000 after acquiring an additional 1,794,992 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in Veralto in the fourth quarter valued at approximately $133,058,000. BNP Paribas Financial Markets purchased a new position in Veralto in the fourth quarter worth $96,888,000. Finally, Geode Capital Management LLC grew its holdings in Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock worth $670,781,000 after purchasing an additional 733,056 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

Veralto Stock Performance

Shares of NYSE VLTO opened at $99.48 on Friday. The company has a 50 day simple moving average of $95.27 and a two-hundred day simple moving average of $99.43. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 4.24 and a beta of 0.99. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00.

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

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. Veralto’s payout ratio is 12.57%.

Insider Buying and Selling

In related news, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the transaction, the senior vice president now owns 17,434 shares in the company, valued at $1,633,042.78. The trade was a 64.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 848 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the transaction, the senior vice president now directly owns 8,433 shares of the company’s stock, valued at $847,938.15. The trade was a 9.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,917 shares of company stock valued at $5,423,033 over the last ninety days. Company insiders own 0.36% of the company’s stock.

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.