abrdn plc Grows Stock Position in Veralto Co. (NYSE:VLTO)

abrdn plc grew its position in Veralto Co. (NYSE:VLTO - Free Report) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,090,949 shares of the company's stock after purchasing an additional 43,945 shares during the quarter. abrdn plc owned approximately 0.44% of Veralto worth $121,052,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company's stock worth $7,151,000 after acquiring an additional 35,433 shares in the last quarter. Cetera Investment Advisers raised 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 acquiring an additional 34,505 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake 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 acquiring an additional 27,891 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Veralto during the 1st quarter worth $1,011,000. Finally, Mediolanum International Funds Ltd purchased a new position in Veralto during the 1st quarter worth $2,372,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VLTO has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Stifel Nicolaus increased their price objective on Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. TD Cowen increased their price objective on Veralto from $95.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, July 30th. UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $108.27.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now directly owns 11,165 shares of the company's stock, valued at approximately $1,256,620.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto 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 directly owns 138,546 shares in the company, 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. Insiders have sold a total of 36,039 shares of company stock valued at $3,992,665 over the last quarter. Insiders own 0.31% of the company's stock.

Veralto Price Performance

Shares of VLTO stock traded down $0.51 during mid-day trading on Tuesday, reaching $103.49. The stock had a trading volume of 1,466,270 shares, compared to its average volume of 1,554,644. Veralto Co. has a 12-month low of $66.69 and a 12-month high of $115.00. The company has a market cap of $25.55 billion and a P/E ratio of 31.83. The business has a 50-day simple moving average of $110.64 and a 200 day simple moving average of $103.05. 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 (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business's revenue for the quarter 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. On average, sell-side analysts anticipate that Veralto Co. will post 3.47 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, September 27th. Veralto's payout ratio is currently 11.11%.

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.