Massachusetts Financial Services Co. MA Has $76.69 Million Stock Position in Veralto Co. (NYSE:VLTO)

Massachusetts Financial Services Co. MA lessened its position in shares of Veralto Co. (NYSE:VLTO) by 63.8% in the third quarter, HoldingsChannel.com reports. The firm owned 685,569 shares of the company’s stock after selling 1,206,750 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Veralto were worth $76,688,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its holdings in Veralto by 20.2% during the 3rd quarter. Intech Investment Management LLC now owns 263,348 shares of the company’s stock worth $29,458,000 after acquiring an additional 44,294 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Veralto by 32.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 199,370 shares of the company’s stock worth $22,302,000 after purchasing an additional 48,808 shares during the period. Cornerstone Advisors LLC increased its holdings in Veralto by 19.4% in the third quarter. Cornerstone Advisors LLC now owns 15,999 shares of the company’s stock worth $1,790,000 after purchasing an additional 2,600 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in Veralto by 21.5% in the third quarter. Citizens Financial Group Inc. RI now owns 3,015 shares of the company’s stock valued at $337,000 after buying an additional 534 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in shares of Veralto by 262.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,084 shares of the company’s stock worth $121,000 after buying an additional 785 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of a number of research analyst reports. TD Cowen increased their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $108.27.

Insider Activity

In other Veralto news, 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 approximately $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,639 shares of company stock worth $3,175,803. Corporate insiders own 0.31% of the company’s stock.

Veralto Price Performance

VLTO stock opened at $106.41 on Monday. The firm has a market cap of $26.32 billion and a P/E ratio of 32.84. The firm’s fifty day moving average is $108.11 and its 200 day moving average is $104.50. Veralto Co. has a 52 week low of $72.23 and a 52 week high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.75 earnings per share. Research analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is currently 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.