Veralto Corporation $VLTO Position Lifted by Ethic Inc.

Ethic Inc. grew its holdings in shares of Veralto Corporation (NYSE:VLTO) by 59.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,897 shares of the company’s stock after acquiring an additional 16,770 shares during the period. Ethic Inc.’s holdings in Veralto were worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pictet Asset Management Holding SA lifted its position in shares of Veralto by 8.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 3,285,938 shares of the company’s stock valued at $309,946,000 after buying an additional 255,749 shares in the last quarter. Parallel Advisors LLC increased its holdings in Veralto by 6.1% in the 3rd quarter. Parallel Advisors LLC now owns 3,800 shares of the company’s stock worth $358,000 after acquiring an additional 219 shares in the last quarter. Calamos Advisors LLC increased its holdings in Veralto by 2.0% in the 3rd quarter. Calamos Advisors LLC now owns 48,438 shares of the company’s stock worth $4,569,000 after acquiring an additional 970 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in Veralto by 36.3% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 15,475 shares of the company’s stock worth $1,460,000 after acquiring an additional 4,125 shares during the period. Finally, Chicago Partners Investment Group LLC raised its stake in Veralto by 49.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,113 shares of the company’s stock worth $533,000 after acquiring an additional 1,701 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VLTO shares. Weiss Ratings upgraded shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Robert W. Baird set a $111.00 price objective on shares of Veralto in a research report on Thursday, July 30th. UBS Group lifted their target price on shares of Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Wall Street Zen downgraded shares of Veralto from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Stifel Nicolaus increased their price target on Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.70.

Veralto Stock Up 0.2%

NYSE VLTO opened at $118.27 on Wednesday. The stock’s 50 day moving average is $100.78 and its 200 day moving average is $93.66. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. Veralto Corporation has a 12 month low of $80.03 and a 12 month high of $119.03. The stock has a market cap of $28.76 billion, a PE ratio of 26.83, a P/E/G ratio of 3.27 and a beta of 0.51.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS. Research analysts predict that Veralto Corporation will post 4.51 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 30th. Veralto’s dividend payout ratio (DPR) is presently 12.87%.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 36,427 shares of the stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $108.89, for a total transaction of $3,966,536.03. Following the completion of the transaction, the senior vice president owned 8,565 shares of the company’s stock, valued at $932,642.85. This represents a 80.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jennifer Honeycutt sold 7,098 shares of the firm’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $105.00, for a total value of $745,290.00. Following the transaction, the chief executive officer owned 120,060 shares of the company’s stock, valued at approximately $12,606,300. The trade was a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 55,094 shares of company stock valued at $6,032,688. Insiders own 0.43% of the company’s stock.

Veralto Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.