Veralto Co. (NYSE:VLTO) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 20.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 401,979 shares of the company's stock after acquiring an additional 67,736 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.16% of Veralto worth $44,965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Bank of New York Mellon Corp increased its holdings in shares of Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company's stock valued at $398,948,000 after acquiring an additional 200,657 shares during the period. FMR LLC grew its stake in Veralto by 5.1% in the third quarter. FMR LLC now owns 3,329,717 shares of the company's stock valued at $372,462,000 after purchasing an additional 162,347 shares during the last quarter. Swedbank AB raised its holdings in 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 purchasing an additional 132,105 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 141,209 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Veralto by 1.7% during the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company's stock valued at $142,510,000 after buying an additional 24,246 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, 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 15,448 shares of company stock worth $1,698,675 in the last ninety days. Company insiders own 0.31% of the company's stock.

Veralto Stock Performance

Shares of Veralto stock traded up $0.25 during trading on Friday, hitting $108.22. 586,303 shares of the company's stock were exchanged, compared to its average volume of 1,533,462. The stock has a market capitalization of $26.76 billion and a price-to-earnings ratio of 33.40. The business has a 50-day simple moving average of $108.00 and a 200-day simple moving average of $104.81. Veralto Co. has a 52-week low of $73.91 and a 52-week 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.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business 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 EPS. The company's revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's dividend payout ratio (DPR) is presently 11.11%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price objective for the company. Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat, Veralto has an average rating of "Hold" and a consensus price target of $108.27.

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.