IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stock Holdings in Veralto Co. (NYSE:VLTO)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,856 shares of the company’s stock after selling 291 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Veralto were worth $2,445,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VLTO. Vanguard Group Inc. increased its stake 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 worth $2,431,869,000 after buying an additional 1,568,103 shares during the last quarter. Capital International Investors increased its position in shares of Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after purchasing an additional 553,021 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after purchasing an additional 200,657 shares in the last quarter. Swedbank AB lifted its position in shares of Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after purchasing an additional 132,105 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Veralto by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock worth $142,510,000 after purchasing an additional 24,246 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. TD Cowen increased their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Stifel Nicolaus lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Robert W. Baird boosted their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $108.00.

Insider Activity at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at $1,256,620.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock worth $4,310,335 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $112.52 on Thursday. The firm’s 50 day moving average is $110.39 and its two-hundred day moving average is $101.71. The firm has a market capitalization of $27.78 billion and a P/E ratio of 35.27. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $114.61.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, September 27th. Veralto’s payout ratio is currently 11.29%.

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.