Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Veralto Co. (NYSE:VLTO)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 112.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,278 shares of the company's stock after acquiring an additional 29,313 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Veralto were worth $6,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Swedbank AB bought a new stake in Veralto in the 1st quarter worth about $237,864,000. Vanguard Group Inc. grew its position in Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company's stock worth $2,431,869,000 after purchasing an additional 1,568,103 shares in the last quarter. Wellington Management Group LLP bought a new stake in Veralto in the 4th quarter worth about $87,203,000. Capital International Investors grew its position in Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company's stock worth $629,232,000 after purchasing an additional 553,021 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Veralto by 753.8% in the 1st quarter. Nordea Investment Management AB now owns 527,040 shares of the company's stock worth $47,154,000 after purchasing an additional 465,312 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Price Performance

NYSE VLTO traded up $0.57 on Friday, hitting $113.60. The stock had a trading volume of 3,872,187 shares, compared to its average volume of 1,652,812. The firm has a 50-day moving average of $110.66 and a 200-day moving average of $102.18. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $114.61. The company has a market capitalization of $28.04 billion and a price-to-earnings ratio of 35.61.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $0.80 EPS. The business's quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts expect that Veralto Co. will post 3.46 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, September 27th. Veralto's dividend payout ratio is currently 11.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 target price for the company. Stifel Nicolaus increased their target price on shares of Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on shares of Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a research report on Monday, July 29th. TD Cowen increased their target price on shares of Veralto from $95.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a research report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Veralto presently has a consensus rating of "Hold" and an average target price of $108.00.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business'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 of the company's stock, valued at $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,039 shares of company stock valued at $4,310,335. 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.