Veralto Co. (NYSE:VLTO) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in Veralto Co. (NYSE:VLTO) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,350 shares of the company’s stock after purchasing an additional 5,562 shares during the period. Daiwa Securities Group Inc.’s holdings in Veralto were worth $9,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Veralto by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after acquiring an additional 200,657 shares during the last quarter. Swedbank AB boosted its position in shares of Veralto by 4.9% during the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after acquiring an additional 132,105 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Veralto by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company’s stock valued at $173,351,000 after purchasing an additional 141,209 shares during the period. Clearbridge Investments LLC increased its position in Veralto by 1.7% during the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock worth $142,510,000 after purchasing an additional 24,246 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,639 shares of company stock worth $3,175,803. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VLTO. The Goldman Sachs Group increased their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. UBS Group assumed coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus lifted their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.27.

Veralto Price Performance

VLTO stock opened at $106.41 on Monday. Veralto Co. has a 1 year low of $72.23 and a 1 year high of $115.00. The firm has a market capitalization of $26.32 billion and a P/E ratio of 32.84. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The business’s 50-day moving average is $108.11 and its two-hundred day moving average is $104.50.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. Veralto’s dividend payout ratio (DPR) is currently 11.11%.

About Veralto

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.