State Street Corp Has $1.07 Billion Stock Position in Veralto Co. (NYSE:VLTO)

State Street Corp boosted its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,599,499 shares of the company's stock after buying an additional 860,608 shares during the period. State Street Corp owned approximately 3.88% of Veralto worth $1,074,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VLTO. Brown Brothers Harriman & Co. grew its holdings in Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company's stock valued at $431,000 after purchasing an additional 99 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of 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. Tokio Marine Asset Management Co. Ltd. raised its stake in Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company's stock worth $821,000 after buying an additional 100 shares during the period. Strategic Blueprint LLC lifted its holdings in Veralto by 4.5% during the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company's stock worth $268,000 after acquiring an additional 102 shares in the last quarter. Finally, Graypoint LLC grew its stake in Veralto by 2.4% in the third quarter. Graypoint LLC now owns 4,514 shares of the company's stock valued at $505,000 after acquiring an additional 107 shares during the period. 91.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their price target 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. UBS Group initiated coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Veralto currently has a consensus rating of "Hold" and a consensus target price of $108.27.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares of the company's stock, valued at $1,256,620.75. This represents a 6.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction 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 of the company's stock, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,695 shares of company stock valued at $1,615,017 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Up 1.2 %

Shares of Veralto stock traded up $1.24 on Friday, reaching $106.53. 1,003,356 shares of the company were exchanged, compared to its average volume of 1,238,117. Veralto Co. has a one year low of $73.91 and a one year high of $115.00. 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 company has a 50-day moving average of $107.58 and a 200 day moving average of $105.13. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 4.40 and a beta of 0.91.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto's dividend 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.