Mediolanum International Funds Ltd Purchases Shares of 81,682 Veralto Co. (NYSE:VLTO)

Mediolanum International Funds Ltd acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 81,682 shares of the company's stock, valued at approximately $8,995,000.

Other large investors have also made changes to their positions in the company. Swedbank AB purchased a new position in shares of Veralto in the first quarter valued at approximately $237,864,000. Vanguard Group Inc. lifted its stake 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. Capital International Investors boosted its holdings in shares of Veralto by 8.5% during 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 during the last quarter. Nordea Investment Management AB grew its position in shares of Veralto by 753.8% in the first quarter. Nordea Investment Management AB now owns 527,040 shares of the company's stock valued at $47,154,000 after purchasing an additional 465,312 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Veralto in the second quarter valued at approximately $39,343,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the firm'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 sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Surekha Trivedi sold 753 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the transaction, the senior vice president now owns 11,165 shares of the company's stock, valued at $1,256,620.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,039 shares of company stock valued at $4,310,335 over the last quarter. Insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several recent research reports. TD Cowen boosted their price target 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. UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 target price on the stock. Stifel Nicolaus upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $108.27.

Veralto Stock Performance

VLTO traded down $1.74 on Friday, hitting $104.05. 1,538,036 shares of the company traded hands, compared to its average volume of 1,556,290. The company has a 50 day moving average of $110.75 and a 200-day moving average of $102.73. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $115.00. 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 capitalization of $25.68 billion and a PE ratio of 32.62.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. Veralto's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. Sell-side analysts anticipate that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, September 27th. Veralto's payout ratio is currently 11.29%.

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.