Nuveen LLC Buys Shares of 1,769,106 Veralto Corporation (NYSE:VLTO)

Nuveen LLC bought a new stake in shares of Veralto Corporation (NYSE:VLTO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,769,106 shares of the company’s stock, valued at approximately $172,399,000. Nuveen LLC owned 0.71% of Veralto as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of VLTO. Brighton Jones LLC grew its position in shares of Veralto by 16.1% during the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company’s stock worth $352,000 after buying an additional 479 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Veralto during the 4th quarter worth approximately $250,000. Raymond James Financial Inc. acquired a new stake in shares of Veralto during the 4th quarter worth approximately $51,986,000. Sterling Capital Management LLC grew its position in shares of Veralto by 36.5% during the 4th quarter. Sterling Capital Management LLC now owns 9,866 shares of the company’s stock worth $1,005,000 after buying an additional 2,637 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in shares of Veralto during the 4th quarter worth approximately $317,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VLTO. Robert W. Baird raised their price objective on shares of Veralto from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Northcoast Research initiated coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective for the company. Royal Bank Of Canada increased their target price on Veralto from $104.00 to $108.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Citigroup cut their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Wolfe Research upgraded Veralto from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Insider Activity at Veralto

In other news, SVP Lesley Beneteau sold 458 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the transaction, the senior vice president directly owned 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the transaction, the senior vice president directly owned 8,433 shares in the company, valued at $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

Veralto Stock Performance

NYSE:VLTO opened at $107.17 on Tuesday. The business has a 50 day moving average of $101.92 and a 200 day moving average of $98.73. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 3.55 and a beta of 0.91. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts predict that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. Veralto’s payout ratio is 12.29%.

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.