Erste Asset Management GmbH Acquires New Position in Veralto Co. (NYSE:VLTO)

Erste Asset Management GmbH acquired a new stake in shares of Veralto Co. (NYSE:VLTO) in the third quarter, HoldingsChannel reports. The fund acquired 415 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers grew its position in shares of Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after buying an additional 34,505 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Veralto by 32.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock worth $23,256,000 after purchasing an additional 60,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Veralto by 126.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock worth $6,460,000 after purchasing an additional 37,721 shares during the last quarter. PGGM Investments bought a new position in Veralto in the 2nd quarter worth about $1,528,000. Finally, Mirova US LLC grew its position in Veralto by 2.2% in the 2nd quarter. Mirova US LLC now owns 1,055,767 shares of the company’s stock worth $100,794,000 after purchasing an additional 22,324 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on VLTO. BMO Capital Markets upped their target price 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. UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. 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 company presently has a consensus rating of “Hold” and an average target price of $108.27.

Veralto Stock Up 0.2 %

VLTO stock opened at $107.51 on Thursday. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00. The firm has a market cap of $26.59 billion, a PE ratio of 33.18, a P/E/G ratio of 4.40 and a beta of 0.91. The firm has a 50 day simple moving average of $107.78 and a 200 day simple moving average of $105.04. 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 released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. Equities research analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is owned by corporate insiders.

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.