Veralto Corporation $VLTO Stock: Illinois Municipal Retirement Fund Raises Stake

Illinois Municipal Retirement Fund lifted its position in shares of Veralto Corporation (NYSE:VLTO) by 25.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,654 shares of the company’s stock after acquiring an additional 28,887 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Veralto worth $13,361,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VLTO. First Trust Advisors LP boosted its holdings in Veralto by 31.5% in the first quarter. First Trust Advisors LP now owns 6,150,388 shares of the company’s stock worth $543,817,000 after purchasing an additional 1,472,304 shares during the period. Amundi increased its stake in Veralto by 16.3% during the first quarter. Amundi now owns 3,797,526 shares of the company’s stock valued at $335,785,000 after purchasing an additional 531,478 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Veralto by 8.4% during the third quarter. Pictet Asset Management Holding SA now owns 3,285,938 shares of the company’s stock worth $309,946,000 after purchasing an additional 255,749 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Veralto during the second quarter worth $235,200,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Veralto by 3.4% during the first quarter. Janus Henderson Group PLC now owns 2,095,393 shares of the company’s stock worth $185,266,000 after purchasing an additional 69,578 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Price Performance

Shares of VLTO opened at $118.79 on Thursday. The company has a market cap of $28.88 billion, a P/E ratio of 26.87, a PEG ratio of 3.28 and a beta of 0.51. The stock has a fifty day moving average price of $101.22 and a 200 day moving average price of $93.74. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.82. Veralto Corporation has a 12 month low of $80.03 and a 12 month high of $119.03.

Veralto (NYSE:VLTO) last posted its earnings results 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 company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a return on equity of 35.08% and a net margin of 17.27%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. On average, research analysts forecast that Veralto Corporation will post 4.51 earnings per share for the current year.

Veralto Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VLTO. Robert W. Baird set a $111.00 price target on shares of Veralto in a research report on Thursday, July 30th. Royal Bank Of Canada boosted their price objective on shares of Veralto from $109.00 to $121.00 and gave the company a “sector perform” rating in a research report on Monday, November 2nd. BNP Paribas Exane reiterated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Veralto in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 target price on shares of Veralto in a report on Friday, October 30th. Finally, Stifel Nicolaus raised their target price on shares of Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.70.

Insider Activity

In other Veralto news, SVP Mattias Byström sold 9,069 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total value of $1,054,724.70. Following the sale, the senior vice president owned 35,536 shares in the company, valued at approximately $4,132,836.80. This trade represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Bernard M. Skeete sold 1,514 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $112.58, for a total transaction of $170,446.12. Following the completion of the sale, the chief accounting officer owned 4,760 shares in the company, valued at $535,880.80. The trade was a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 55,094 shares of company stock valued at $6,032,688. Company 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.