Royal London Asset Management Ltd. Has $14.39 Million Stake in Veralto Co. (NYSE:VLTO)

Royal London Asset Management Ltd. grew its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,677 shares of the company's stock after acquiring an additional 10,390 shares during the period. Royal London Asset Management Ltd. owned 0.05% of Veralto worth $14,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Reynders McVeigh Capital Management LLC grew its stake in shares of Veralto by 2.7% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 286,119 shares of the company's stock valued at $32,005,000 after buying an additional 7,628 shares in the last quarter. Motley Fool Asset Management LLC acquired a new stake in Veralto in the third quarter valued at approximately $541,000. Investment Management Corp of Ontario grew its position in Veralto by 306.1% in the third quarter. Investment Management Corp of Ontario now owns 22,747 shares of the company's stock worth $2,544,000 after acquiring an additional 17,145 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Veralto by 29.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company's stock worth $208,511,000 after acquiring an additional 418,588 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Veralto by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company's stock worth $322,827,000 after purchasing an additional 11,430 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Surekha Trivedi sold 752 shares of the company'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 sale, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,695 shares of company stock valued at $1,615,017. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. BMO Capital Markets boosted their price target on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price objective on the stock. Finally, Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Seven 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 stock currently has a consensus rating of "Hold" and a consensus target price of $108.27.

Veralto Stock Performance

Shares of VLTO stock traded up $1.24 during trading hours on Friday, reaching $106.53. 1,003,356 shares of the company's stock were exchanged, compared to its average volume of 1,238,117. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $26.35 billion, a P/E ratio of 32.88, a P/E/G ratio of 4.40 and a beta of 0.91. The business has a fifty day moving average price of $107.58 and a 200-day moving average price of $105.16.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating 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 net margin of 15.69% and a return on equity of 52.85%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. Analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

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

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.