Kentucky Retirement Systems Insurance Trust Fund Has $818,000 Stock Position in Veralto Co. (NYSE:VLTO)

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Veralto Co. (NYSE:VLTO) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,316 shares of the company’s stock after purchasing an additional 230 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Veralto were worth $818,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VLTO. Empowered Funds LLC bought a new position in Veralto in the first quarter valued at about $309,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Veralto by 19.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock valued at $14,952,000 after purchasing an additional 27,891 shares during the period. Vanguard Group Inc. increased its position 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 buying an additional 1,568,103 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Veralto in the first quarter worth about $1,011,000. Finally, UniSuper Management Pty Ltd raised its holdings in Veralto by 410.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 13,179 shares of the company’s stock worth $1,168,000 after buying an additional 10,598 shares during the period. 91.28% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,393,810. This trade represents a 36.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Performance

Shares of VLTO stock opened at $102.68 on Monday. Veralto Co. has a 12 month low of $70.06 and a 12 month high of $115.00. The firm’s 50 day moving average is $108.57 and its 200 day moving average is $104.13. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $25.39 billion and a P/E ratio of 31.69.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. On average, sell-side analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Analysts Set New Price Targets

Several research firms have commented on VLTO. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Robert W. Baird raised 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. TD Cowen boosted their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target of $108.27.

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.