Veralto Co. (NYSE:VLTO) Stock Position Raised by Quantbot Technologies LP

Quantbot Technologies LP lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 77.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 149,756 shares of the company’s stock after purchasing an additional 65,213 shares during the period. Veralto accounts for about 0.7% of Quantbot Technologies LP’s investment portfolio, making the stock its 6th biggest holding. Quantbot Technologies LP’s holdings in Veralto were worth $16,752,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB acquired a new stake in shares of Veralto in the 1st quarter worth approximately $237,864,000. Principal Financial Group Inc. grew its position in shares of Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new position in Veralto in the second quarter valued at $39,343,000. Point72 Asset Management L.P. purchased a new position in Veralto during the second quarter worth about $24,618,000. Finally, Bank of Montreal Can grew its holdings in Veralto by 106.0% in the 3rd quarter. Bank of Montreal Can now owns 455,474 shares of the company’s stock valued at $50,239,000 after buying an additional 234,323 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. TD Cowen boosted their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. UBS Group initiated coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Finally, Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Veralto has an average rating of “Hold” and an average price target of $108.27.

Veralto Stock Up 1.9 %

NYSE VLTO opened at $108.48 on Tuesday. Veralto Co. has a fifty-two week low of $72.85 and a fifty-two week high of $115.00. The stock has a market cap of $26.83 billion and a PE ratio of 33.48. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average price of $108.08 and a two-hundred day moving average price of $104.59.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. As a group, sell-side analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. Veralto’s dividend payout ratio (DPR) is 11.11%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the transaction, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,639 shares of company stock valued at $3,175,803. Company insiders own 0.31% of the company’s stock.

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.