Veralto Co. (NYSE:VLTO) Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 19.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,999 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Cornerstone Advisors LLC’s holdings in Veralto were worth $1,790,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Veralto by 5.0% during 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 buying an additional 200,657 shares during the period. Swedbank AB raised its position in Veralto by 4.9% in the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after purchasing an additional 132,105 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Veralto by 1.7% in the 2nd quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after purchasing an additional 24,246 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares during the period. Finally, abrdn plc increased its position in shares of Veralto by 4.2% during the third quarter. abrdn plc now owns 1,090,949 shares of the company’s stock valued at $121,052,000 after acquiring an additional 43,945 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of VLTO opened at $106.01 on Friday. The firm has a market capitalization of $26.22 billion and a price-to-earnings ratio of 32.72. 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 firm’s fifty day simple moving average is $108.18 and its 200-day simple moving average is $104.33. Veralto Co. has a twelve month low of $72.23 and a twelve month high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm 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 was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.34%. Veralto’s dividend payout ratio (DPR) is 11.11%.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen raised their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Veralto currently has a consensus rating of “Hold” and a consensus price target of $108.27.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value 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. This represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,639 shares of company stock worth $3,175,803. Company insiders own 0.31% of the company’s stock.

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.