Sumitomo Mitsui Trust Group Inc. Purchases 20,532 Shares of Veralto Co. (NYSE:VLTO)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 613,625 shares of the company's stock after buying an additional 20,532 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Veralto worth $68,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its stake in Veralto by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company's stock valued at $1,801,000 after buying an additional 100 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company's stock worth $268,000 after buying an additional 102 shares in the last quarter. Graypoint LLC boosted its stake in Veralto by 2.4% during the third quarter. Graypoint LLC now owns 4,514 shares of the company's stock valued at $505,000 after buying an additional 107 shares during the period. Sentry Investment Management LLC grew its position in Veralto by 1.8% during the third quarter. Sentry Investment Management LLC now owns 5,999 shares of the company's stock worth $671,000 after buying an additional 108 shares in the last quarter. Finally, Perkins Coie Trust Co raised its holdings in shares of Veralto by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 7,253 shares of the company's stock valued at $811,000 after acquiring an additional 125 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VLTO shares. Robert W. Baird boosted their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a "neutral" rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. 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, BMO Capital Markets upped their target price on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research note on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Veralto has a consensus rating of "Hold" and an average price target of $108.27.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the 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 sale, the senior vice president now owns 12,671 shares in the company, valued at $1,393,810. This trade represents a 36.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business's stock in a transaction on Monday, September 30th. The shares were 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 $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,038 shares of company stock worth $3,989,693 over the last quarter. Insiders own 0.31% of the company's stock.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $103.11 on Friday. The firm has a fifty day simple moving average of $108.83 and a two-hundred day simple moving average of $104.01. Veralto Co. has a 52 week low of $70.06 and a 52 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 $25.50 billion and a P/E ratio of 31.82.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $0.75 earnings per share. The firm's revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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%.

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.