Axxcess Wealth Management LLC Purchases New Shares in Veralto Corporation $VLTO

Key Points

• Axxcess Wealth Management LLC acquired a new stake in Veralto Corporation, purchasing 2,592 shares valued at approximately $262,000 during the 2nd quarter.
• CEO Jennifer Honeycutt sold 10,646 shares of Veralto at an average price of $106.26, reducing her ownership by 9.11% to 106,219 shares.
• Veralto announced a quarterly dividend of $0.11 per share, reflecting an annual yield of 0.4%, with the payment scheduled for October 31st to shareholders of record on September 30th.

Axxcess Wealth Management LLC purchased a new stake in Veralto Corporation (NYSE:VLTO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,592 shares of the company's stock, valued at approximately $262,000.

A number of other hedge funds have also recently modified their holdings of the business. Defender Capital LLC. boosted its holdings in shares of Veralto by 9.2% during the 2nd quarter. Defender Capital LLC. now owns 172,870 shares of the company's stock valued at $17,451,000 after buying an additional 14,586 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of Veralto by 93.8% during the 2nd quarter. NorthRock Partners LLC now owns 4,647 shares of the company's stock valued at $469,000 after buying an additional 2,249 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Veralto by 62.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,992 shares of the company's stock valued at $1,009,000 after buying an additional 3,824 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Veralto by 2.5% during the 2nd quarter. Yousif Capital Management LLC now owns 38,685 shares of the company's stock valued at $3,905,000 after buying an additional 931 shares in the last quarter. Finally, MGO One Seven LLC bought a new stake in shares of Veralto during the 2nd quarter valued at $341,000. Institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $106.26, for a total value of $1,131,243.96. Following the completion of the transaction, the chief executive officer owned 106,219 shares of the company's stock, valued at approximately $11,286,830.94. The trade was a 9.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.36% of the company's stock.

Veralto Price Performance

VLTO opened at $102.88 on Friday. The stock has a 50-day moving average price of $106.06 and a 200-day moving average price of $101.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The firm has a market cap of $25.53 billion, a PE ratio of 28.74, a P/E/G ratio of 3.39 and a beta of 0.90. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its 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. Veralto had a return on equity of 41.45% and a net margin of 16.65%.The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. Veralto's revenue was up 6.4% on a year-over-year basis. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. Sell-side analysts predict that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. Veralto's payout ratio is 12.29%.

Analyst Ratings Changes

VLTO has been the topic of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Raymond James Financial began coverage on shares of Veralto in a report on Tuesday, August 26th. They set a "market perform" rating on the stock. Stifel Nicolaus set a $120.00 price target on Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Barclays lowered their price target on Veralto from $120.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.43.

Veralto Company 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.

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