Veralto Corporation $VLTO Shares Acquired by Hikari Power Ltd

Hikari Power Ltd raised its holdings in shares of Veralto Corporation (NYSE:VLTO) by 1.8% during the second quarter, HoldingsChannel.com reports. The firm owned 54,556 shares of the company’s stock after buying an additional 950 shares during the period. Veralto accounts for 0.5% of Hikari Power Ltd’s portfolio, making the stock its 28th biggest position. Hikari Power Ltd’s holdings in Veralto were worth $5,507,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Veralto by 1.3% during the first quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company’s stock worth $2,897,916,000 after purchasing an additional 390,285 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Veralto by 8.3% during 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 during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Veralto by 28.0% during 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 during the last quarter. Invesco Ltd. grew its holdings in shares of Veralto by 6.9% during the first quarter. Invesco Ltd. now owns 4,856,071 shares of the company’s stock valued at $473,224,000 after buying an additional 314,704 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Veralto by 13.6% during the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company’s stock valued at $415,074,000 after buying an additional 509,104 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Trading Down 0.1%

VLTO stock opened at $104.72 on Monday. The company’s 50-day simple moving average is $105.67 and its 200-day simple moving average 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 firm 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 posted its earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts forecast that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the stock in a transaction dated 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 directly owned 106,219 shares of the company’s stock, valued at $11,286,830.94. This represents a 9.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Veralto from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Wolfe Research raised shares of Veralto from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Raymond James Financial began coverage on shares of Veralto in a report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Royal Bank Of Canada upped their price target on shares of Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Finally, 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 report on Monday, October 6th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.43.

Veralto Company 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.