Chevy Chase Trust Holdings LLC Raises Stock Position in Veralto Corporation $VLTO

Chevy Chase Trust Holdings LLC raised its stake in Veralto Corporation (NYSE:VLTO) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,890 shares of the company’s stock after buying an additional 1,148 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Veralto were worth $13,920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VLTO. Nuveen LLC purchased a new position in Veralto in the first quarter valued at about $172,399,000. Alliancebernstein L.P. increased its holdings in Veralto by 28.0% in the first quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company’s stock valued at $607,656,000 after buying an additional 1,363,502 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Veralto by 8.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company’s stock valued at $1,027,264,000 after buying an additional 811,843 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Veralto by 26.8% in the first quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company’s stock valued at $314,137,000 after buying an additional 682,123 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Veralto by 162.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,064,810 shares of the company’s stock valued at $107,493,000 after buying an additional 658,529 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the firm’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 transaction of $1,131,243.96. Following the sale, the chief executive officer owned 106,219 shares in the company, valued at approximately $11,286,830.94. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the topic of several research reports. Royal Bank Of Canada increased their price target on shares of Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. Barclays lowered their price target on shares of Veralto from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Raymond James Financial initiated coverage on shares of Veralto in a research report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the company a “buy” rating in a research report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Veralto has an average rating of “Moderate Buy” and a consensus target price of $113.43.

Veralto Stock Up 1.0%

Shares of NYSE VLTO opened at $102.88 on Friday. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00. The firm’s 50 day moving average price is $106.06 and its 200 day moving average price is $101.11. The firm has a market cap of $25.53 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 3.39 and a beta of 0.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32.

Veralto (NYSE:VLTO) last announced its earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $0.85 earnings per share. Veralto’s revenue was up 6.4% compared to the same quarter last year. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. As a group, sell-side analysts anticipate that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. Veralto’s dividend payout ratio (DPR) is 12.29%.

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.