Veralto Corporation $VLTO Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of Veralto Corporation (NYSE:VLTO) by 26.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 415,904 shares of the company’s stock after acquiring an additional 87,646 shares during the period. Teacher Retirement System of Texas’ holdings in Veralto were worth $41,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new position in Veralto during the second quarter worth about $26,000. Truvestments Capital LLC raised its position in Veralto by 148.5% during the first quarter. Truvestments Capital LLC now owns 328 shares of the company’s stock worth $32,000 after acquiring an additional 196 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Veralto during the second quarter worth about $51,000. Cloud Capital Management LLC acquired a new position in Veralto during the first quarter worth about $64,000. Finally, Marshall & Sullivan Inc. WA acquired a new position in Veralto during the second quarter worth about $74,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the company’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 completion of the transaction, the chief executive officer owned 106,219 shares of the company’s stock, valued at approximately $11,286,830.94. This represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.

Veralto Stock Performance

Shares of VLTO stock opened at $104.21 on Tuesday. Veralto Corporation has a one year low of $83.86 and a one year high of $110.11. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. The company has a 50 day moving average price of $105.62 and a 200 day moving average price of $101.83. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 3.45 and a beta of 0.90.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.93 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. Veralto’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently declared 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 of this dividend is Tuesday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.4%. Veralto’s dividend payout ratio is 12.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on VLTO shares. Weiss Ratings raised shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. 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 research report on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective 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. Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, Wolfe Research raised shares of Veralto from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Veralto currently has an average rating of “Moderate Buy” and an average 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.