Otter Creek Advisors LLC Boosts Stock Holdings in Veralto Co. (NYSE:VLTO)

Otter Creek Advisors LLC boosted its stake in shares of Veralto Co. (NYSE:VLTO) by 57.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,994 shares of the company’s stock after acquiring an additional 13,555 shares during the period. Veralto accounts for 2.7% of Otter Creek Advisors LLC’s portfolio, making the stock its 23rd largest holding. Otter Creek Advisors LLC’s holdings in Veralto were worth $4,138,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in Veralto by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after acquiring an additional 200,657 shares in the last quarter. Swedbank AB grew its stake in Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after acquiring an additional 132,105 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Veralto by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company’s stock worth $173,351,000 after buying an additional 141,209 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Veralto by 1.7% in the 2nd quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock worth $142,510,000 after buying an additional 24,246 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Veralto by 207.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 0.9 %

NYSE VLTO opened at $106.01 on Friday. The company’s 50-day simple moving average is $108.18 and its two-hundred day simple moving average is $104.33. 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 one year low of $72.23 and a one year high of $115.00. The company has a market capitalization of $26.22 billion and a price-to-earnings ratio of 32.72.

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

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio is presently 11.11%.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction that occurred on Monday, September 30th. The shares were 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 owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,639 shares of company stock valued at $3,175,803. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on VLTO shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. 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. UBS Group started coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. TD Cowen raised 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, Stifel Nicolaus raised their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. 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, the company currently has a consensus rating of “Hold” and an average price target of $108.27.

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.