Investment Management Corp of Ontario Raises Stake in Veralto Co. (NYSE:VLTO)

Investment Management Corp of Ontario boosted its stake in Veralto Co. (NYSE:VLTO - Free Report) by 306.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,747 shares of the company's stock after purchasing an additional 17,145 shares during the period. Investment Management Corp of Ontario's holdings in Veralto were worth $2,544,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cetera Investment Advisers increased its stake in shares of Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company's stock valued at $4,294,000 after buying an additional 34,505 shares during the period. Cetera Advisors LLC increased its stake in shares of Veralto by 90.2% during the first quarter. Cetera Advisors LLC now owns 11,624 shares of the company's stock valued at $1,031,000 after buying an additional 5,511 shares during the period. Mather Group LLC. increased its stake in shares of Veralto by 42.9% during the second quarter. Mather Group LLC. now owns 570 shares of the company's stock valued at $51,000 after buying an additional 171 shares during the period. Kingswood Wealth Advisors LLC increased its stake in shares of Veralto by 21.1% during the second quarter. Kingswood Wealth Advisors LLC now owns 2,984 shares of the company's stock valued at $285,000 after buying an additional 520 shares during the period. Finally, CWM LLC increased its stake in shares of Veralto by 22.7% during the second quarter. CWM LLC now owns 5,795 shares of the company's stock valued at $553,000 after buying an additional 1,072 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 10,413 shares of the company's stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was 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 in the company, valued at approximately $15,260,841.90. The trade was a 8.69 % 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 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Veralto Stock Down 2.1 %

VLTO stock traded down $2.21 during midday trading on Thursday, hitting $105.31. The company's stock had a trading volume of 1,075,067 shares, compared to its average volume of 1,525,551. The firm's 50-day moving average is $107.66 and its 200-day moving average is $105.04. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00. The company has a market cap of $26.04 billion, a PE ratio of 32.50, a P/E/G ratio of 4.43 and a beta of 0.91.

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

Veralto Dividend Announcement

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

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.