B. Riley Wealth Advisors Inc. Sells 684 Shares of Veralto Co. (NYSE:VLTO)

B. Riley Wealth Advisors Inc. lessened its stake in Veralto Co. (NYSE:VLTO) by 15.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,658 shares of the company’s stock after selling 684 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Veralto were worth $409,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in Veralto by 1.9% in the second quarter. Assenagon Asset Management S.A. now owns 11,290 shares of the company’s stock valued at $1,078,000 after purchasing an additional 211 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Veralto during the 2nd quarter valued at $272,000. LRI Investments LLC boosted its position in Veralto by 184.7% during the 2nd quarter. LRI Investments LLC now owns 390 shares of the company’s stock valued at $37,000 after buying an additional 253 shares during the period. Community Financial Services Group LLC grew its holdings in Veralto by 336.6% in the 2nd quarter. Community Financial Services Group LLC now owns 48,956 shares of the company’s stock worth $4,674,000 after acquiring an additional 37,742 shares during the last quarter. Finally, AMG National Trust Bank increased its position in shares of Veralto by 31.2% in the second quarter. AMG National Trust Bank now owns 3,114 shares of the company’s stock valued at $297,000 after acquiring an additional 741 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of analyst reports. Stifel Nicolaus dropped their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada increased their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto has an average rating of “Moderate Buy” and a consensus target price of $109.50.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction dated 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. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’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 transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,695 shares of company stock valued at $1,615,017 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Veralto Price Performance

VLTO opened at $101.33 on Friday. 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 market cap of $25.06 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 4.30 and a beta of 0.91. The stock has a fifty day simple moving average of $106.27 and a two-hundred day simple moving average of $105.35. Veralto Co. has a 12-month low of $73.91 and a 12-month high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the business earned $0.75 EPS. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

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.