DekaBank Deutsche Girozentrale Grows Stock Position in Veralto Co. (NYSE:VLTO)

DekaBank Deutsche Girozentrale boosted its holdings in Veralto Co. (NYSE:VLTO) by 1.3% during the third quarter, Holdings Channel reports. The institutional investor owned 814,216 shares of the company’s stock after buying an additional 10,130 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Veralto were worth $90,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Veralto during the 1st quarter worth about $237,864,000. Vanguard Group Inc. raised its stake in shares of Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after acquiring an additional 1,568,103 shares during the period. Capital International Investors lifted its holdings in shares of Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after acquiring an additional 553,021 shares in the last quarter. Nordea Investment Management AB increased its holdings in Veralto by 753.8% in the 1st quarter. Nordea Investment Management AB now owns 527,040 shares of the company’s stock valued at $47,154,000 after purchasing an additional 465,312 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Veralto in the second quarter worth about $39,343,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on VLTO. BMO Capital Markets upped their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. UBS Group initiated coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Robert W. Baird increased their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus upped their price objective on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $108.27.

Veralto Trading Down 1.6 %

NYSE VLTO opened at $104.05 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $115.00. The firm’s fifty day simple moving average is $110.75 and its 200-day simple moving average is $102.83. The company has a market capitalization of $25.73 billion and a PE ratio of 32.11.

Veralto (NYSE:VLTO) last posted 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 return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Veralto Co. will post 3.47 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.35%. Veralto’s payout ratio is 11.11%.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction on Monday, September 30th. The stock was 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 directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,039 shares of company stock valued at $3,992,665 in the last three months. Company insiders own 0.31% of the company’s stock.

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.