42,000 Shares in Veralto Corporation $VLTO Bought by Magnolia Group LLC

Magnolia Group LLC acquired a new stake in Veralto Corporation (NYSE:VLTO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,000 shares of the company’s stock, valued at approximately $3,961,000. Veralto accounts for 1.4% of Magnolia Group LLC’s holdings, making the stock its 14th largest holding.

Several other large investors have also bought and sold shares of the business. MGO One Seven LLC boosted its stake in Veralto by 3.2% in the third quarter. MGO One Seven LLC now owns 3,477 shares of the company’s stock valued at $328,000 after acquiring an additional 107 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Veralto by 5.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,751 shares of the company’s stock valued at $244,000 after acquiring an additional 131 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Veralto by 1.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 12,100 shares of the company’s stock valued at $1,198,000 after purchasing an additional 141 shares during the period. Nolet Wealth Management LLC lifted its stake in shares of Veralto by 1.0% in the 2nd quarter. Nolet Wealth Management LLC now owns 15,277 shares of the company’s stock valued at $1,355,000 after purchasing an additional 146 shares during the period. Finally, North Dakota State Investment Board lifted its stake in shares of Veralto by 2.0% in the 3rd quarter. North Dakota State Investment Board now owns 7,517 shares of the company’s stock valued at $709,000 after purchasing an additional 150 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Mattias Byström sold 9,069 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $116.30, for a total transaction of $1,054,724.70. Following the sale, the senior vice president owned 35,536 shares of the company’s stock, valued at approximately $4,132,836.80. This trade represents a 20.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 36,427 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $108.89, for a total value of $3,966,536.03. Following the sale, the senior vice president directly owned 8,565 shares in the company, valued at $932,642.85. The trade was a 80.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 55,094 shares of company stock worth $6,032,688 over the last quarter. Corporate insiders own 0.43% of the company’s stock.

Veralto Stock Up 0.5%

Shares of NYSE VLTO opened at $118.79 on Thursday. The stock has a market cap of $28.88 billion, a P/E ratio of 29.40, a P/E/G ratio of 3.28 and a beta of 0.51. The firm has a 50 day moving average price of $101.22 and a 200 day moving average price of $93.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.82 and a current ratio of 2.03. Veralto Corporation has a 52-week low of $80.03 and a 52-week high of $119.03.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, October 29th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.09 by $0.09. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Analysts expect that Veralto Corporation will post 4.51 EPS for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. Veralto’s payout ratio is 12.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings upgraded Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Wall Street Zen downgraded Veralto from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Stifel Nicolaus upped their price objective on Veralto from $113.00 to $132.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Wolfe Research started coverage on Veralto in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, BNP Paribas Exane restated an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of Veralto in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.70.

About Veralto

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.