CIBC Asset Management Inc grew its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 17.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,964 shares of the company's stock after buying an additional 5,454 shares during the period. CIBC Asset Management Inc's holdings in Veralto were worth $4,135,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Capital International Investors increased its holdings in Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company's stock valued at $629,232,000 after purchasing an additional 553,021 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company's stock worth $398,948,000 after acquiring an additional 200,657 shares in the last quarter. Swedbank AB grew its position in Veralto by 4.9% in the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company's stock valued at $268,746,000 after acquiring an additional 132,105 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Veralto by 1.7% during the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company's stock worth $142,510,000 after purchasing an additional 24,246 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company's stock valued at $125,608,000 after purchasing an additional 757,389 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Veralto Stock Performance
Shares of VLTO stock traded up $1.14 during midday trading on Tuesday, hitting $103.98. The company had a trading volume of 1,442,618 shares, compared to its average volume of 1,531,596. The stock has a market cap of $25.72 billion and a price-to-earnings ratio of 31.74. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company's 50 day simple moving average is $108.44 and its 200 day simple moving average is $104.26. Veralto Co. has a 52-week low of $70.47 and a 52-week high of $115.00.
Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Veralto's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. 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 announced 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 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto's payout ratio is 11.11%.
Insider Transactions at Veralto
In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 752 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares of the company's stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,038 shares of company stock valued at $3,989,693. Corporate insiders own 0.31% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on VLTO. The Goldman Sachs Group lifted their price objective on Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Robert W. Baird raised their target price on Veralto from $98.00 to $112.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. BMO Capital Markets upped their price target on Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a report on Monday, September 30th. Stifel Nicolaus increased 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Veralto from $100.00 to $109.00 and gave the company a "hold" rating in a research report on Monday, July 29th. 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 presently has a consensus rating of "Hold" and an average target price of $108.27.
Get Our Latest Research Report on VLTO
About Veralto
(
Free Report)
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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