OVERSEA CHINESE BANKING Corp Ltd Decreases Position in Veralto Co. (NYSE:VLTO)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 15.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,512 shares of the company's stock after selling 66,517 shares during the period. Veralto comprises approximately 1.2% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 17th largest holding. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.15% of Veralto worth $42,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Veralto in the 3rd quarter valued at $25,000. Goodman Advisory Group LLC acquired a new position in Veralto in the 2nd quarter valued at $26,000. LRI Investments LLC acquired a new position in Veralto in the 1st quarter valued at $30,000. Fairscale Capital LLC acquired a new stake in shares of Veralto in the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company's stock worth $32,000 after acquiring an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Stifel Nicolaus raised their target price on Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. TD Cowen raised 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. Finally, UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Veralto currently has an average rating of "Hold" and a consensus target price of $108.27.

Veralto Stock Down 0.2 %

Shares of VLTO traded down $0.21 during midday trading on Tuesday, hitting $104.18. The company had a trading volume of 276,374 shares, compared to its average volume of 1,535,635. The company's 50-day simple moving average is $109.08 and its 200-day simple moving average is $103.93. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm has a market capitalization of $25.76 billion and a P/E ratio of 32.22. Veralto Co. has a 1 year low of $70.06 and a 1 year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts expect that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

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

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. The trade was 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 the SEC website. In other news, CEO Jennifer Honeycutt sold 13,190 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares of the company's stock, valued at approximately $15,260,841.90. 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 accessible through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,038 shares of company stock worth $3,989,693 over the last 90 days. 0.31% of the stock is owned by insiders.

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.