Bank of Montreal Can Buys 234,323 Shares of Veralto Co. (NYSE:VLTO)

Bank of Montreal Can raised its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 106.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 455,474 shares of the company's stock after purchasing an additional 234,323 shares during the quarter. Bank of Montreal Can owned 0.18% of Veralto worth $50,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of VLTO. Cetera Investment Advisers grew its holdings in shares of Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company's stock worth $4,294,000 after purchasing an additional 34,505 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Veralto by 32.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company's stock worth $23,256,000 after acquiring an additional 60,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Veralto by 126.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company's stock valued at $6,460,000 after acquiring an additional 37,721 shares in the last quarter. PGGM Investments bought a new position in shares of Veralto in the second quarter worth about $1,528,000. Finally, Mirova US LLC lifted its position in shares of Veralto by 2.2% during the second quarter. Mirova US LLC now owns 1,055,767 shares of the company's stock worth $100,794,000 after purchasing an additional 22,324 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the sale, the senior vice president now directly owns 11,918 shares in the company, valued at $1,324,089.80. This trade represents a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company's stock, valued at approximately $15,514,381.08. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,639 shares of company stock worth $3,175,803 over the last 90 days. Company insiders own 0.31% of the company's stock.

Veralto Stock Up 0.0 %

Shares of NYSE:VLTO traded up $0.01 during trading on Thursday, hitting $107.97. 675,082 shares of the company were exchanged, compared to its average volume of 1,537,581. Veralto Co. has a fifty-two week low of $72.85 and a fifty-two week high of $115.00. The stock has a market cap of $26.70 billion and a price-to-earnings ratio of 33.32. 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 firm has a fifty day moving average price of $108.02 and a two-hundred day moving average price of $104.72.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. As a group, research analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VLTO. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 target price on the stock. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a report on Monday, September 30th. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus lifted their price target on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $108.27.

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.