Point72 Hong Kong Ltd Takes $4.25 Million Position in Veralto Co. (NYSE:VLTO)

Point72 Hong Kong Ltd acquired a new position in shares of Veralto Co. (NYSE:VLTO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,985 shares of the company's stock, valued at approximately $4,249,000.

A number of other large investors have also added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC purchased a new stake in Veralto in the second quarter worth $26,000. Fairscale Capital LLC purchased a new stake in Veralto in the second quarter worth $30,000. Hazlett Burt & Watson Inc. raised its stake in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company's stock valued at $32,000 after acquiring an additional 333 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company's stock valued at $35,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. BMO Capital Markets increased 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. Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Finally, 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 target for the company. Seven investment 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 company presently has an average rating of "Hold" and a consensus price target of $108.27.

Veralto Stock Up 0.2 %

Shares of VLTO traded up $0.22 on Friday, reaching $108.19. The stock had a trading volume of 586,303 shares, compared to its average volume of 1,324,704. The firm has a market capitalization of $26.76 billion and a price-to-earnings ratio of 33.39. 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 company has a 50-day simple moving average of $108.00 and a 200-day simple moving average of $104.86. Veralto Co. has a 12-month low of $73.91 and a 12-month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. The business 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 quarterly 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. Sell-side analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.33%. Veralto's dividend payout ratio (DPR) is presently 11.11%.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the business's stock in a transaction dated Friday, November 1st. The stock was 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 owns 10,413 shares of the company's stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business's stock in a transaction dated 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 completion of the transaction, 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 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,448 shares of company stock valued at $1,698,675. Insiders own 0.31% of the company's stock.

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.