Veralto Co. (NYSE:VLTO) Shares Purchased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC raised its position in Veralto Co. (NYSE:VLTO - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,923 shares of the company's stock after buying an additional 13,749 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Veralto worth $15,876,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. ClearAlpha Technologies LP purchased a new position in Veralto in the third quarter worth $266,000. Point72 Hong Kong Ltd bought a new stake in Veralto in the 3rd quarter valued at about $4,249,000. Erste Asset Management GmbH purchased a new stake in Veralto during the third quarter valued at about $46,000. Fred Alger Management LLC boosted its position in Veralto by 34.0% during the third quarter. Fred Alger Management LLC now owns 41,305 shares of the company's stock worth $4,620,000 after purchasing an additional 10,483 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of Veralto by 105.5% in the third quarter. Verition Fund Management LLC now owns 93,595 shares of the company's stock valued at $10,470,000 after purchasing an additional 48,047 shares during the period. Institutional investors own 91.28% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,695 shares of company stock valued at $1,615,017 over the last three months. Corporate insiders own 0.31% of the company's stock.

Veralto Price Performance

VLTO traded down $2.21 during trading on Thursday, reaching $105.31. The stock had a trading volume of 1,075,067 shares, compared to its average volume of 1,525,551. The stock has a market cap of $26.04 billion, a PE ratio of 32.50, a PEG ratio of 4.43 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a one year low of $73.91 and a one year high of $115.00. The business has a 50-day moving average of $107.78 and a 200-day moving average of $105.04.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm 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 firm posted $0.75 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto's dividend payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VLTO. BMO Capital Markets lifted their price objective 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. Stifel Nicolaus increased their price objective on Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 target price for the company. Finally, Royal Bank of Canada increased their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.