Veralto Corporation $VLTO Stake Raised by Ethic Inc.

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

Several other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in shares of Veralto in the second quarter valued at about $235,200,000. First Trust Advisors LP grew its stake in Veralto by 31.5% during the 1st quarter. First Trust Advisors LP now owns 6,150,388 shares of the company’s stock valued at $543,817,000 after acquiring an additional 1,472,304 shares in the last quarter. Amundi boosted its holdings in shares of Veralto by 16.3% during the 1st quarter. Amundi now owns 3,797,526 shares of the company’s stock worth $335,785,000 after purchasing an additional 531,478 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Veralto during the 2nd quarter worth approximately $35,594,000. Finally, SEB Asset Management AB purchased a new stake in shares of Veralto in the first quarter valued at approximately $30,562,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of VLTO opened at $118.27 on Wednesday. The firm has a 50-day simple moving average of $100.78 and a two-hundred day simple moving average of $93.66. 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 Corporation has a 1-year low of $80.03 and a 1-year high of $119.03. 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 (NYSE:VLTO) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.09 by $0.09. The firm had revenue of $1.51 billion for 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 business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. As a group, analysts forecast that Veralto Corporation will post 4.51 EPS 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 issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, September 30th. Veralto’s payout ratio is currently 12.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VLTO. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price objective on shares of Veralto in a research report on Friday, October 30th. Wolfe Research began coverage on Veralto in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 target price for the company. BNP Paribas Exane reiterated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Veralto in a report on Thursday, July 30th. UBS Group boosted their price target on shares of Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Finally, Barclays raised their price objective on shares of Veralto from $117.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.70.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 36,427 shares of the business’s 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 sale, the senior vice president directly owned 8,565 shares in the company, valued at $932,642.85. This represents a 80.96% decrease in their ownership of the stock. The sale 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 stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $105.00, for a total transaction of $745,290.00. Following the sale, the chief executive officer directly owned 120,060 shares in the company, valued at $12,606,300. This represents a 5.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 55,094 shares of company stock worth $6,032,688 in the last 90 days. Insiders own 0.43% of the company’s stock.

Veralto Company 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.