Illinois Municipal Retirement Fund Acquires 28,887 Shares of Veralto Corporation $VLTO

Illinois Municipal Retirement Fund lifted its holdings in Veralto Corporation (NYSE:VLTO) by 25.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 141,654 shares of the company’s stock after purchasing an additional 28,887 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Veralto were worth $13,361,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of VLTO. Lido Advisors LLC lifted its holdings in Veralto by 3.2% in the third quarter. Lido Advisors LLC now owns 25,377 shares of the company’s stock worth $2,394,000 after purchasing an additional 798 shares during the period. New York Life Investment Management LLC boosted its position in shares of Veralto by 0.7% during the 3rd quarter. New York Life Investment Management LLC now owns 39,636 shares of the company’s stock valued at $3,738,000 after purchasing an additional 288 shares in the last quarter. Welch & Forbes LLC bought a new stake in Veralto during the third quarter worth approximately $754,000. M&G PLC boosted its stake in shares of Veralto by 265.0% during the 3rd quarter. M&G PLC now owns 826,232 shares of the company’s stock worth $77,666,000 after acquiring an additional 599,850 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new position in Veralto in the 3rd quarter worth about $301,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Mattias Byström sold 9,069 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $116.30, for a total value of $1,054,724.70. Following the transaction, the senior vice president owned 35,536 shares in the company, valued at $4,132,836.80. This represents a 20.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 36,427 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $108.89, for a total value of $3,966,536.03. Following the completion of the transaction, the senior vice president owned 8,565 shares in the company, valued at $932,642.85. This represents a 80.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 55,094 shares of company stock worth $6,032,688. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on VLTO shares. Robert W. Baird set a $111.00 price objective on shares of Veralto in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating and issued a $135.00 target price on shares of Veralto in a report on Friday, October 30th. Barclays lifted their target price 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. Wolfe Research started coverage on shares of Veralto in a report on Tuesday, September 15th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target 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. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $120.70.

Veralto Stock Performance

Shares of Veralto stock opened at $118.79 on Thursday. The stock has a market cap of $28.88 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.28 and a beta of 0.51. The business has a fifty day simple moving average of $101.22 and a 200-day simple moving average of $93.74. The company has a quick ratio of 1.82, a current ratio of 2.03 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.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, beating 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 return on equity of 35.08% and a net margin of 17.27%. Veralto’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. On average, sell-side analysts anticipate that Veralto Corporation will post 4.51 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders 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 payout ratio is 12.87%.

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.