Zacks Investment Management Makes New $4.86 Million Investment in Veralto Co. (NYSE:VLTO)

Zacks Investment Management purchased a new position in Veralto Co. (NYSE:VLTO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 43,411 shares of the company's stock, valued at approximately $4,856,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of VLTO. Canada Pension Plan Investment Board lifted its stake in Veralto by 32.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company's stock worth $23,256,000 after acquiring an additional 60,300 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Veralto by 126.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company's stock worth $6,460,000 after purchasing an additional 37,721 shares during the period. PGGM Investments purchased a new position in Veralto during the second quarter valued at approximately $1,528,000. Mirova US LLC grew its position in Veralto by 2.2% during the second quarter. Mirova US LLC now owns 1,055,767 shares of the company's stock valued at $100,794,000 after purchasing an additional 22,324 shares in the last quarter. Finally, Northstar Asset Management Inc. lifted its position in Veralto by 22.5% in the 3rd quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company's stock worth $8,762,000 after buying an additional 14,398 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus increased their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. BMO Capital Markets raised their price objective on Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a research note on Monday, September 30th. UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 target price for the company. Finally, 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 report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Veralto has a consensus rating of "Hold" and a consensus target price of $108.27.

Insider Activity

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the company'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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 753 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,695 shares of company stock worth $1,615,017 in the last 90 days. Corporate insiders own 0.31% of the company's stock.

Veralto Trading Up 0.2 %

VLTO stock traded up $0.24 during trading on Monday, hitting $106.77. The company had a trading volume of 1,050,892 shares, compared to its average volume of 1,521,344. The firm has a 50-day moving average price of $107.48 and a 200-day moving average price of $105.21. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The stock has a market cap of $26.41 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 4.39 and a beta of 0.91.

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

Veralto Dividend Announcement

The firm also recently declared 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 0.34%. The ex-dividend date was Friday, September 27th. Veralto's dividend payout ratio 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.