The Manufacturers Life Insurance Company Increases Position in Veralto Co. (NYSE:VLTO)

The Manufacturers Life Insurance Company boosted its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,227 shares of the company's stock after acquiring an additional 15,048 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Veralto worth $18,259,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Veralto by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company's stock worth $398,948,000 after buying an additional 200,657 shares in the last quarter. Swedbank AB boosted its stake in shares of Veralto by 4.9% in the second quarter. Swedbank AB now owns 2,814,983 shares of the company's stock worth $268,746,000 after acquiring an additional 132,105 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Veralto by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company's stock worth $173,351,000 after acquiring an additional 141,209 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Veralto by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company's stock worth $142,510,000 after acquiring an additional 24,246 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company's stock worth $125,608,000 after acquiring an additional 757,389 shares during the period. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Trading Down 2.2 %

Shares of NYSE VLTO traded down $2.37 during midday trading on Monday, hitting $105.82. The company's stock had a trading volume of 249,788 shares, compared to its average volume of 1,527,795. 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 business's 50 day moving average is $108.00 and its two-hundred day moving average is $104.90. Veralto Co. has a 12-month low of $73.91 and a 12-month high of $115.00. The firm has a market cap of $26.17 billion and a P/E ratio of 33.39.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto's quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. As a group, equities research analysts expect that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.34%. Veralto's dividend payout ratio (DPR) is presently 11.11%.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares of the company's stock, valued at $1,256,620.75. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,448 shares of company stock valued at $1,698,675 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on VLTO. BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research note on Monday, September 30th. Stifel Nicolaus increased their price target on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $108.27.

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.