Hikari Power Ltd Grows Stake in Veralto Corporation $VLTO

Hikari Power Ltd increased its stake in Veralto Corporation (NYSE:VLTO) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,556 shares of the company’s stock after acquiring an additional 950 shares during the period. Veralto makes up approximately 0.5% of Hikari Power Ltd’s investment portfolio, making the stock its 28th biggest position. Hikari Power Ltd’s holdings in Veralto were worth $5,507,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new stake in Veralto in the second quarter worth about $26,000. Truvestments Capital LLC lifted its stake in Veralto by 148.5% in the first quarter. Truvestments Capital LLC now owns 328 shares of the company’s stock worth $32,000 after purchasing an additional 196 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Veralto in the second quarter worth about $51,000. Cloud Capital Management LLC bought a new stake in Veralto in the first quarter worth about $64,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in Veralto in the second quarter worth about $74,000. Institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VLTO shares. Wolfe Research raised shares of Veralto from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Veralto in a research note on Friday. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the company a “buy” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial started coverage on shares of Veralto in a research note on Tuesday, August 26th. They set a “market perform” rating for the company. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $113.43.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the completion of the transaction, the chief executive officer owned 106,219 shares of the company’s stock, valued at $11,286,830.94. The trade was a 9.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.36% of the stock is owned by company insiders.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $104.72 on Monday. The company has a market capitalization of $25.99 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 3.45 and a beta of 0.90. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $110.11. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $105.67 and a 200 day moving average of $101.74.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. Veralto’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. Veralto’s payout ratio is 12.29%.

About Veralto

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.