Creative Planning Acquires 726 Shares of Veralto Co. (NYSE:VLTO)

Creative Planning grew its stake in shares of Veralto Co. (NYSE:VLTO) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,186 shares of the company’s stock after acquiring an additional 726 shares during the period. Creative Planning’s holdings in Veralto were worth $2,929,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Swedbank AB bought a new position in Veralto in the 1st quarter worth about $237,864,000. Vanguard Group Inc. boosted its position in shares of Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after acquiring an additional 1,568,103 shares during the period. Capital International Investors grew its stake in Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after acquiring an additional 553,021 shares in the last quarter. Nordea Investment Management AB increased its holdings in Veralto by 753.8% during the 1st quarter. Nordea Investment Management AB now owns 527,040 shares of the company’s stock worth $47,154,000 after acquiring an additional 465,312 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in Veralto during the 2nd quarter worth approximately $39,343,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Down 1.6 %

Shares of NYSE VLTO opened at $104.05 on Friday. The stock has a market capitalization of $25.68 billion and a P/E ratio of 32.62. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. Veralto Co. has a one year low of $65.51 and a one year high of $115.00. The firm’s 50 day simple moving average is $110.75 and its two-hundred day simple moving average is $102.73.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Veralto Co. will post 3.46 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.29%.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted 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. Robert W. Baird boosted their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. TD Cowen upped their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $108.27.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock worth $4,310,335 in the last ninety days. 0.31% of the stock is owned by company insiders.

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.