TT International Asset Management LTD Sells 9,647 Shares of Veralto Co. (NYSE:VLTO)

TT International Asset Management LTD cut its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,983 shares of the company's stock after selling 9,647 shares during the quarter. TT International Asset Management LTD's holdings in Veralto were worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of VLTO. State Street Corp boosted its position in Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company's stock valued at $1,074,654,000 after acquiring an additional 860,608 shares in the last quarter. Geode Capital Management LLC boosted its position in Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company's stock valued at $654,232,000 after acquiring an additional 558,393 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Veralto by 5.0% during 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 in the last quarter. FMR LLC boosted its position in Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company's stock valued at $372,462,000 after acquiring an additional 162,347 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Veralto by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company's stock worth $322,827,000 after purchasing an additional 11,430 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VLTO. BMO Capital Markets boosted their price target on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. UBS Group initiated coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 price objective for the company. Royal Bank of Canada boosted their target price 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. Finally, Stifel Nicolaus decreased their target price on shares of Veralto from $119.00 to $117.00 and set a "buy" rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $108.09.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 752 shares of the firm'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 transaction of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares of the company's stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders have sold 14,695 shares of company stock valued at $1,615,017 in the last ninety days. 0.31% of the stock is owned by company insiders.

Veralto Price Performance

Shares of NYSE VLTO traded down $1.12 during mid-day trading on Wednesday, hitting $105.27. 350,781 shares of the company's stock traded hands, compared to its average volume of 1,513,028. The company's 50-day moving average is $107.48 and its two-hundred day moving average is $105.21. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company has a market capitalization of $26.03 billion, a P/E ratio of 32.88, a PEG ratio of 4.39 and a beta of 0.91. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion for 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 business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. On average, equities analysts anticipate that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto's dividend payout ratio (DPR) is currently 11.11%.

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.