Louisiana State Employees Retirement System Buys 1,500 Shares of Veralto Co. (NYSE:VLTO)

Louisiana State Employees Retirement System raised its stake in shares of Veralto Co. (NYSE:VLTO) by 12.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 13,900 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Veralto were worth $1,555,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Swedbank AB purchased a new position in shares of Veralto in the first quarter valued at about $237,864,000. Vanguard Group Inc. lifted its position in shares of Veralto by 6.1% in the first 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 in the last quarter. Capital International Investors lifted its position in shares of Veralto by 8.5% in the first 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 lifted its position in shares of Veralto by 753.8% in the first quarter. Nordea Investment Management AB now owns 527,040 shares of the company’s stock valued at $47,154,000 after acquiring an additional 465,312 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in shares of Veralto in the second quarter valued at about $39,343,000. Institutional investors own 91.28% of the company’s stock.

Insider Activity

In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This represents 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 through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the transaction, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,286 shares of company stock valued at $3,912,305. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

VLTO has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. UBS Group assumed coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $108.27.

Veralto Trading Down 1.0 %

Shares of VLTO stock opened at $102.20 on Friday. Veralto Co. has a 1 year low of $66.69 and a 1 year high of $115.00. 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 stock’s 50 day simple moving average is $110.22 and its two-hundred day simple moving average is $103.15. The company has a market cap of $25.23 billion and a PE ratio of 31.54.

Veralto (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Research analysts predict that Veralto Co. will post 3.47 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a dividend of $0.09 per share. 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 0.35%. Veralto’s dividend payout ratio is 11.11%.

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.