Bank of Montreal Can Raises Holdings in Veralto Co. (NYSE:VLTO)

Bank of Montreal Can raised its position in Veralto Co. (NYSE:VLTO) by 8.9% during the second quarter, HoldingsChannel reports. The firm owned 221,151 shares of the company’s stock after purchasing an additional 18,108 shares during the period. Bank of Montreal Can’s holdings in Veralto were worth $21,884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its stake in Veralto by 78.3% during the first quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock worth $7,151,000 after purchasing an additional 35,433 shares during the period. Nomura Holdings Inc. acquired a new stake in Veralto during the fourth quarter worth $717,000. Cetera Investment Advisers raised its position in Veralto by 247.8% in the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after purchasing an additional 34,505 shares during the period. TD Asset Management Inc acquired a new position in shares of Veralto in the 4th quarter valued at $33,129,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Veralto by 19.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock worth $14,952,000 after purchasing an additional 27,891 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the 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 $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock worth $2,772,707. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $110.30 on Friday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The firm has a market capitalization of $27.23 billion and a PE ratio of 29.65. The business’s fifty day moving average price is $107.91 and its 200 day moving average price is $99.35.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. On average, sell-side analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s payout ratio is 9.68%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VLTO. UBS Group started coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.46.

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.