Forum Financial Management LP Has $253,000 Stock Holdings in Veralto Corporation $VLTO

Forum Financial Management LP increased its holdings in Veralto Corporation (NYSE:VLTO) by 13.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,511 shares of the company’s stock after purchasing an additional 294 shares during the period. Forum Financial Management LP’s holdings in Veralto were worth $253,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VLTO. Harbor Asset Planning Inc. acquired a new position in Veralto in the second quarter worth about $26,000. Truvestments Capital LLC increased its holdings in shares of Veralto by 148.5% during the first quarter. Truvestments Capital LLC now owns 328 shares of the company’s stock worth $32,000 after buying an additional 196 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Veralto during the second quarter worth approximately $51,000. Cloud Capital Management LLC acquired a new stake in shares of Veralto during the first quarter worth approximately $64,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Veralto during the second quarter worth approximately $74,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Price Performance

Shares of VLTO stock opened at $104.21 on Tuesday. Veralto Corporation has a 52-week low of $83.86 and a 52-week high of $110.11. The stock has a market cap of $25.86 billion, a PE ratio of 29.11, a PEG ratio of 3.45 and a beta of 0.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. The firm’s 50 day moving average price is $105.62 and its two-hundred day moving average price is $101.83.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. As a group, analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Veralto’s dividend payout ratio (DPR) is currently 12.29%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VLTO shares. Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the stock a “buy” rating in a report on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on shares of Veralto from $104.00 to $108.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Barclays decreased their price target on shares of Veralto from $120.00 to $119.00 and set an “overweight” rating on the stock in a research note on Monday, October 6th. Wolfe Research raised shares of Veralto from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings raised shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.43.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the sale, the chief executive officer owned 106,219 shares of the company’s stock, valued at $11,286,830.94. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

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.