Public Sector Pension Investment Board Grows Holdings in Veralto Co. (NYSE:VLTO)

Public Sector Pension Investment Board raised its stake in Veralto Co. (NYSE:VLTO - Free Report) by 119.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,834 shares of the company's stock after buying an additional 5,900 shares during the period. Public Sector Pension Investment Board's holdings in Veralto were worth $1,212,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in Veralto in the 3rd quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Veralto during the second quarter valued at $26,000. Fairscale Capital LLC acquired a new position in shares of Veralto during the second quarter worth $30,000. Hazlett Burt & Watson Inc. grew its stake in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company's stock worth $32,000 after purchasing an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in Veralto by 692.3% in 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 period. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Transactions at Veralto

In other Veralto 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 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. The trade was a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the firm'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 owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,695 shares of company stock valued at $1,615,017 over the last ninety days. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group assumed coverage on Veralto in a research report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 price target on the stock. Stifel Nicolaus upped their target price on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Finally, BMO Capital Markets upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a research note on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $108.27.

Veralto Stock Up 1.2 %

NYSE VLTO traded up $1.24 on Friday, hitting $106.53. 1,003,356 shares of the company were exchanged, compared to its average volume of 1,254,690. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The company has a market cap of $26.35 billion, a PE ratio of 32.88, a PEG ratio of 4.44 and a beta of 0.91. The stock has a fifty day moving average of $107.58 and a 200-day moving average of $105.13. 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 released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business's revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. Veralto's dividend payout ratio is 11.11%.

About Veralto

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.