UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Veralto Co. (NYSE:VLTO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Veralto Co. (NYSE:VLTO - Free Report) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,319,493 shares of the company's stock after acquiring an additional 82,470 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.94% of Veralto worth $259,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in Veralto in the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC purchased a new position in Veralto during the 2nd quarter valued at about $26,000. Fairscale Capital LLC purchased a new stake in shares of Veralto in the second quarter worth about $30,000. Hazlett Burt & Watson Inc. boosted its position 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 valued at $32,000 after acquiring an additional 333 shares during the period. Finally, Raleigh Capital Management Inc. grew its stake 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 acquiring an additional 270 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on VLTO. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 price target for the company. Stifel Nicolaus lifted their price objective on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. 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. Finally, Royal Bank of Canada raised their price target on Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Veralto currently has an average rating of "Hold" and an average target price of $108.27.

Veralto Price Performance

VLTO traded up $0.22 during midday trading on Friday, hitting $108.19. The stock had a trading volume of 586,303 shares, compared to its average volume of 1,533,462. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00. 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 business has a fifty day moving average of $108.00 and a 200 day moving average of $104.81. The company has a market cap of $26.76 billion and a P/E ratio of 33.40.

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 company 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 firm's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, equities analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. Veralto's dividend payout ratio is currently 11.11%.

Insider Activity

In other 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 value of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the business'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 transaction, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade 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 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.