Duff & Phelps Investment Management Co. Raises Stake in Veralto Co. (NYSE:VLTO)

Duff & Phelps Investment Management Co. grew its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 28.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 265,019 shares of the company's stock after acquiring an additional 59,200 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.11% of Veralto worth $29,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VLTO. Ashton Thomas Securities LLC purchased a new stake in Veralto in the third quarter valued at $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Veralto in the 2nd quarter valued at about $26,000. Fairscale Capital LLC acquired a new stake in shares of Veralto in the 2nd quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its stake in Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company's stock worth $32,000 after buying an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its position in Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company's stock worth $35,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Price Performance

VLTO traded up $0.24 during midday trading on Monday, reaching $106.77. 1,050,892 shares of the company's stock were exchanged, compared to its average volume of 1,521,344. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00. The stock has a market capitalization of $26.41 billion, a PE ratio of 32.95, a P/E/G ratio of 4.39 and a beta of 0.91. 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 business's 50-day moving average price is $107.58 and its 200 day moving average price is $105.16.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data 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. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same period last year, the company posted $0.75 EPS. The company'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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 annualized dividend and a dividend yield of 0.34%. Veralto's dividend payout ratio is currently 11.11%.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. UBS Group started coverage on 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 company an "outperform" rating in a report on Monday, September 30th. Finally, 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 report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Veralto has an average rating of "Hold" and an average target price of $108.27.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares of the company's stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,695 shares of company stock valued at $1,615,017 over the last quarter. Insiders own 0.31% of the company's stock.

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.