Capital International Inc. CA Grows Stake in Veralto Co. (NYSE:VLTO)

Capital International Inc. CA raised its stake in Veralto Co. (NYSE:VLTO) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,536 shares of the company’s stock after purchasing an additional 4,442 shares during the quarter. Capital International Inc. CA’s holdings in Veralto were worth $4,481,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares during the last quarter. Capital International Investors increased its position in shares of Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Veralto during the fourth quarter worth about $528,018,000. Impax Asset Management Group plc bought a new stake in Veralto in the fourth quarter valued at about $347,827,000. Finally, Bank of New York Mellon Corp increased its holdings in Veralto by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock valued at $352,700,000 after buying an additional 617,441 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price objective on shares of Veralto in a report on Friday, June 14th. Citigroup boosted their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Robert W. Baird boosted their price objective on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. BMO Capital Markets boosted their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, TD Cowen started coverage on Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 target price for the company. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Veralto currently has an average rating of “Moderate Buy” and an average target price of $97.08.

Veralto Stock Performance

Shares of NYSE VLTO traded up $5.26 during midday trading on Friday, hitting $104.87. 2,971,930 shares of the company’s stock were exchanged, compared to its average volume of 1,581,389. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The stock’s 50 day moving average price is $98.99 and its 200-day moving average price is $90.99. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $107.86.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, equities analysts anticipate that Veralto Co. will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%.

Insider Transactions at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

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.