ING Groep NV Boosts Holdings in Veralto Co. (NYSE:VLTO)

ING Groep NV boosted its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 71.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,848 shares of the company's stock after buying an additional 81,285 shares during the period. ING Groep NV owned 0.08% of Veralto worth $21,908,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Veralto in the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Veralto in the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new position in Veralto during the first quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in Veralto during the second quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company's stock valued at $32,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of analyst reports. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price target 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. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. TD Cowen lifted their target price on Veralto from $95.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group increased their price target on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $108.27.

Veralto Trading Down 0.4 %

NYSE VLTO traded down $0.43 during trading on Friday, hitting $102.68. The stock had a trading volume of 1,098,880 shares, compared to its average volume of 1,533,582. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $25.39 billion and a PE ratio of 31.75. The firm has a 50 day moving average price of $108.69 and a 200 day moving average price of $104.00. Veralto Co. has a twelve month low of $70.06 and a twelve month 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 for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion during 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%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. As a group, equities research analysts forecast that Veralto Co. will post 3.48 earnings per share for the current 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 paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's payout ratio is currently 11.11%.

Insider Activity at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction on 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Surekha Trivedi sold 753 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares of the company's stock, valued at approximately $1,256,620.75. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,038 shares of company stock worth $3,989,693. Company insiders own 0.31% of the company's stock.

About Veralto

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.