Victory Capital Management Inc. Boosts Stock Holdings in Veralto Co. (NYSE:VLTO)

Victory Capital Management Inc. increased its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,884 shares of the company's stock after buying an additional 5,030 shares during the period. Victory Capital Management Inc.'s holdings in Veralto were worth $11,285,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of VLTO. Aptus Capital Advisors LLC acquired a new stake in shares of Veralto during the 3rd quarter worth about $232,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Veralto by 3.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 613,625 shares of the company's stock worth $68,640,000 after acquiring an additional 20,532 shares during the period. WealthPlan Investment Management LLC acquired a new position in shares of Veralto in the third quarter worth $2,949,000. WealthPLAN Partners LLC purchased a new stake in shares of Veralto in the third quarter valued at $1,545,000. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Veralto by 15.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 7,479 shares of the company's stock valued at $837,000 after purchasing an additional 995 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VLTO shares. Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Stifel Nicolaus upped their price target on shares of Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Royal Bank of Canada upped 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. The Goldman Sachs Group increased their target price on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Finally, UBS Group began coverage on Veralto in a research note on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $108.27.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,639 shares of company stock worth $3,175,803 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Veralto Trading Up 0.9 %

Shares of NYSE VLTO traded up $0.90 during midday trading on Thursday, reaching $106.01. 1,285,646 shares of the stock were exchanged, compared to its average volume of 1,530,110. Veralto Co. has a 12 month low of $72.23 and a 12 month high of $115.00. The business has a 50-day simple moving average of $108.24 and a two-hundred day simple moving average of $104.32. The company has a market capitalization of $26.22 billion and a price-to-earnings ratio of 32.44. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

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

Veralto Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's payout ratio is 11.11%.

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.