Sumitomo Mitsui Trust Group Inc. Purchases 23,914 Shares of Veralto Corporation $VLTO

Sumitomo Mitsui Trust Group Inc. lifted its position in Veralto Corporation (NYSE:VLTO) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 635,805 shares of the company’s stock after acquiring an additional 23,914 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Veralto worth $64,185,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harbor Asset Planning Inc. bought a new stake in Veralto during the 2nd quarter valued at about $26,000. Truvestments Capital LLC raised its stake in shares of Veralto by 148.5% during the first quarter. Truvestments Capital LLC now owns 328 shares of the company’s stock valued at $32,000 after acquiring an additional 196 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Veralto during the second quarter valued at approximately $51,000. Cloud Capital Management LLC purchased a new stake in shares of Veralto in the first quarter valued at approximately $64,000. Finally, Marshall & Sullivan Inc. WA bought a new position in Veralto in the second quarter worth approximately $74,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 0.1%

Shares of Veralto stock opened at $104.72 on Monday. The firm’s 50 day moving average price is $105.67 and its 200-day moving average price is $101.74. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. Veralto Corporation has a 52-week low of $83.86 and a 52-week high of $110.11. The company has a market cap of $25.99 billion, a P/E ratio of 29.25, a PEG ratio of 3.45 and a beta of 0.90.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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 the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the transaction, the chief executive officer owned 106,219 shares of the company’s stock, valued at $11,286,830.94. The trade was a 9.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on VLTO. Stifel Nicolaus set a $120.00 target price on Veralto and gave the company a “buy” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Raymond James Financial assumed coverage on shares of Veralto in a research note on Tuesday, August 26th. They issued a “market perform” rating for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Veralto in a research report on Friday. Finally, Robert W. Baird boosted their price target on shares of Veralto from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.43.

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.