Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 29.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,402 shares of the company's stock after buying an additional 5,284 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Veralto were worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its holdings in shares of Veralto by 78.3% in the first quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company's stock valued at $7,151,000 after purchasing an additional 35,433 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Veralto by 247.8% in the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company's stock valued at $4,294,000 after purchasing an additional 34,505 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Veralto by 19.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company's stock valued at $14,952,000 after purchasing an additional 27,891 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Veralto in the first quarter valued at $1,011,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Veralto in the first quarter valued at $2,372,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
Veralto Stock Performance
Veralto stock traded down $1.05 during mid-day trading on Thursday, hitting $102.19. The company had a trading volume of 1,109,197 shares, compared to its average volume of 1,548,127. 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 Co. has a 12-month low of $66.69 and a 12-month high of $115.00. The company's fifty day moving average is $110.39 and its 200-day moving average is $103.16. The company has a market capitalization of $25.23 billion and a price-to-earnings ratio of 31.77.
Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Veralto Co. will post 3.47 EPS for the current year.
Veralto Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. Veralto's dividend payout ratio (DPR) is 11.11%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Stifel Nicolaus raised their price target on Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 target price for the company. Finally, BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $108.27.
View Our Latest Stock Analysis on Veralto
Insider Activity
In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,393,810. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at approximately $15,260,841.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares of the company's stock, valued at $1,393,810. 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 35,286 shares of company stock worth $3,912,305 in the last quarter. Corporate insiders own 0.31% of the company's stock.
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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