Entropy Technologies LP Purchases New Stake in Veralto Corporation (NYSE:VLTO)

Key Points

• Entropy Technologies LP has acquired 12,175 shares of Veralto Corporation, valued at approximately $1.19 million, indicating growing institutional interest in the company.
• Veralto recently reported earnings of **$0.93 per share**, surpassing analysts' expectations, and achieved a quarterly revenue of **$1.37 billion**, marking a **6.4% year-over-year growth**.
• The company announced a quarterly dividend of **$0.11 per share**, resulting in an annualized yield of **0.4%**, reflecting its commitment to returning value to shareholders.

Entropy Technologies LP acquired a new stake in Veralto Corporation (NYSE:VLTO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,175 shares of the company's stock, valued at approximately $1,186,000.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock valued at $352,000 after acquiring an additional 479 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Veralto in the fourth quarter valued at about $250,000. Raymond James Financial Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at about $51,986,000. Sterling Capital Management LLC raised its position in Veralto by 36.5% during the fourth quarter. Sterling Capital Management LLC now owns 9,866 shares of the company's stock worth $1,005,000 after acquiring an additional 2,637 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new position in Veralto during the fourth quarter worth about $317,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VLTO. Stifel Nicolaus set a $120.00 target price on shares of Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Robert W. Baird boosted their price objective on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Northcoast Research began coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, Royal Bank Of Canada boosted their price objective on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Three equities research 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.43.

Veralto Stock Down 1.8%

Shares of NYSE VLTO traded down $1.99 on Thursday, hitting $107.76. The company had a trading volume of 957,202 shares, compared to its average volume of 1,384,563. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00. The firm has a market capitalization of $26.74 billion, a P/E ratio of 30.10, a PEG ratio of 3.58 and a beta of 0.91. The business has a 50 day moving average of $102.47 and a two-hundred day moving average of $98.91.

Veralto (NYSE:VLTO - Get Free Report) last released 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 firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%. Veralto's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. As a group, equities research analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 848 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the transaction, the senior vice president directly owned 8,433 shares in the company, valued at approximately $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.36% of the company's stock.

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.