Addison Capital Co raised its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 67.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,120 shares of the company's stock after acquiring an additional 6,077 shares during the period. Addison Capital Co's holdings in Veralto were worth $1,691,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in VLTO. Daiwa Securities Group Inc. grew its position in Veralto by 78.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company's stock valued at $7,151,000 after acquiring an additional 35,433 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Veralto in the fourth quarter valued at approximately $717,000. Cetera Investment Advisers increased its stake in Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company's stock worth $4,294,000 after buying an additional 34,505 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Veralto by 19.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company's stock worth $14,952,000 after buying an additional 27,891 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Veralto during the 1st quarter worth approximately $1,011,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Veralto
In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares of the company's stock, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares of the company's stock, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 753 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock worth $4,310,335 over the last 90 days. Company insiders own 0.31% of the company's stock.
Veralto Stock Performance
NYSE:VLTO traded up $0.57 during midday trading on Friday, reaching $113.60. The stock had a trading volume of 3,861,793 shares, compared to its average volume of 1,556,599. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The stock has a market cap of $28.04 billion and a P/E ratio of 35.44. The firm has a fifty day simple moving average of $110.51 and a two-hundred day simple moving average of $101.78. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $114.61.
Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities analysts expect that Veralto Co. will post 3.45 EPS for the current year.
Veralto Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.32%. Veralto's dividend payout ratio is presently 11.29%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. BMO Capital Markets upped 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. UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Veralto from $100.00 to $109.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Stifel Nicolaus raised their target price on shares of Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $108.00.
Check Out Our Latest Research Report on Veralto
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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