Veralto Co. (NYSE:VLTO) Stock Holdings Reduced by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Veralto Co. (NYSE:VLTO - Free Report) by 12.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,185 shares of the company's stock after selling 6,035 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Veralto were worth $4,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company's stock worth $431,000 after purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Veralto by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company's stock worth $1,801,000 after purchasing an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Veralto by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company's stock valued at $821,000 after purchasing an additional 100 shares during the last quarter. Strategic Blueprint LLC raised its holdings in shares of Veralto by 4.5% during the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company's stock worth $268,000 after purchasing an additional 102 shares during the period. Finally, Graypoint LLC lifted its position in shares of Veralto by 2.4% in the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company's stock worth $505,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. This trade represents a 6.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,695 shares of company stock worth $1,615,017. Company insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

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

Veralto Price Performance

VLTO traded up $0.68 during trading on Tuesday, reaching $107.31. The stock had a trading volume of 1,053,447 shares, compared to its average volume of 1,529,369. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00. The firm has a market capitalization of $26.54 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 4.40 and a beta of 0.91. The stock has a 50 day moving average of $107.85 and a two-hundred day moving average of $105.02. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

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

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. Veralto's dividend payout ratio (DPR) is 11.11%.

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.