Fred Alger Management LLC Increases Stock Holdings in Veralto Co. (NYSE:VLTO)

Fred Alger Management LLC grew its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 34.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,305 shares of the company's stock after purchasing an additional 10,483 shares during the period. Fred Alger Management LLC's holdings in Veralto were worth $4,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of VLTO. Verition Fund Management LLC lifted its holdings in shares of Veralto by 105.5% in the 3rd quarter. Verition Fund Management LLC now owns 93,595 shares of the company's stock worth $10,470,000 after acquiring an additional 48,047 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Veralto by 2.0% in the third quarter. Rockefeller Capital Management L.P. now owns 210,291 shares of the company's stock valued at $23,521,000 after purchasing an additional 4,186 shares during the period. PEAK6 Investments LLC lifted its stake in Veralto by 246.3% during the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company's stock worth $977,000 after purchasing an additional 6,211 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Veralto by 119.6% during the third quarter. Public Sector Pension Investment Board now owns 10,834 shares of the company's stock worth $1,212,000 after buying an additional 5,900 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Veralto by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,493 shares of the company's stock valued at $259,458,000 after buying an additional 82,470 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. The trade was 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 worth $1,698,675. Corporate insiders own 0.31% of the company's stock.

Veralto Stock Up 0.2 %

NYSE:VLTO traded up $0.22 during trading hours on Friday, hitting $108.19. The company's stock had a trading volume of 586,303 shares, compared to its average volume of 1,324,704. Veralto Co. has a 52-week low of $73.91 and a 52-week 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 stock has a market capitalization of $26.76 billion and a P/E ratio of 33.39. The stock has a fifty day moving average of $108.00 and a 200-day moving average of $104.90.

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, beating analysts' consensus estimates of $0.85 by $0.04. The business 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%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. On average, equities analysts forecast that Veralto Co. will post 3.48 earnings per share for the current 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 given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. Veralto's dividend payout ratio is presently 11.11%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VLTO shares. Stifel Nicolaus increased 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. UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Finally, BMO Capital Markets raised their price target 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 equities 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.com, the company presently has an average rating of "Hold" and a consensus price target 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.