Lecap Asset Management Ltd. Grows Position in Veralto Co. (NYSE:VLTO)

Lecap Asset Management Ltd. raised its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 76.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,174 shares of the company's stock after acquiring an additional 13,477 shares during the period. Veralto makes up approximately 0.8% of Lecap Asset Management Ltd.'s holdings, making the stock its 22nd biggest position. Lecap Asset Management Ltd.'s holdings in Veralto were worth $3,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of VLTO. Swedbank AB bought a new position in shares of Veralto in the 1st quarter worth approximately $237,864,000. Vanguard Group Inc. increased its holdings 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 acquiring an additional 1,568,103 shares in the last quarter. Capital International Investors increased its holdings 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 acquiring an additional 553,021 shares in the last quarter. Nordea Investment Management AB increased its holdings 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 acquiring an additional 465,312 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in Veralto in the 2nd quarter worth approximately $39,343,000. Institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other 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 transaction 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 approximately $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Mattias Bystrom sold 3,000 shares of the company's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company's stock, valued at $3,287,355.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction 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 approximately $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock valued at $4,310,335 over the last three months. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VLTO shares. Deutsche Bank Aktiengesellschaft lifted their price objective 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. UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their price objective 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $108.00.

Veralto Trading Down 0.8 %

NYSE VLTO traded down $0.86 on Wednesday, hitting $110.93. 1,426,410 shares of the stock were exchanged, compared to its average volume of 1,549,735. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The stock has a fifty day moving average price of $110.86 and a two-hundred day moving average price of $102.54. The firm has a market capitalization of $27.38 billion and a P/E ratio of 35.12. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $114.61.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. Research analysts forecast that Veralto Co. will post 3.46 EPS for the current fiscal year.

Veralto Announces Dividend

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

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.