Veralto Co. (NYSE:VLTO) Position Boosted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in Veralto Co. (NYSE:VLTO) by 24.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,787 shares of the company’s stock after purchasing an additional 1,350 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Veralto were worth $759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VLTO. Crossmark Global Holdings Inc. increased its holdings in shares of Veralto by 2.1% in the third quarter. Crossmark Global Holdings Inc. now owns 12,900 shares of the company’s stock valued at $1,443,000 after buying an additional 261 shares in the last quarter. RKL Wealth Management LLC acquired a new stake in shares of Veralto during the third quarter worth $325,000. Assetmark Inc. lifted its holdings in shares of Veralto by 10.3% during the third quarter. Assetmark Inc. now owns 18,920 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,768 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Veralto by 207.2% in the 3rd 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. Finally, Graypoint LLC increased its stake in Veralto by 2.4% in the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Royal Bank of Canada increased 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. TD Cowen lifted their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, UBS Group began coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.27.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. This trade represents a 36.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,038 shares of company stock valued at $3,989,693 over the last quarter. Insiders own 0.31% of the company’s stock.

Veralto Stock Down 0.4 %

VLTO opened at $102.68 on Friday. The company has a market capitalization of $25.39 billion and a PE ratio of 31.75. The business has a 50-day moving average of $108.69 and a 200-day moving average of $104.00. Veralto Co. has a fifty-two week low of $70.06 and a fifty-two week 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.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued 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 yield of 0.35%. Veralto’s dividend payout ratio (DPR) is currently 11.11%.

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.