Intech Investment Management LLC Acquires 44,294 Shares of Veralto Co. (NYSE:VLTO)

Intech Investment Management LLC raised its holdings in shares of Veralto Co. (NYSE:VLTO) by 20.2% during the third quarter, HoldingsChannel reports. The fund owned 263,348 shares of the company’s stock after purchasing an additional 44,294 shares during the quarter. Intech Investment Management LLC’s holdings in Veralto were worth $29,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Veralto during the 3rd quarter valued at $25,000. Goodman Advisory Group LLC bought a new stake in Veralto during the 2nd quarter valued at $26,000. Fairscale Capital LLC bought a new stake in Veralto during the 2nd quarter valued at $30,000. Raleigh Capital Management Inc. raised its holdings in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares during the period. Finally, LRI Investments LLC bought a new position in shares of Veralto in the first quarter worth $30,000. Institutional investors own 91.28% of the company’s stock.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,639 shares of company stock valued at $3,175,803. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Robert W. Baird upped their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus upped their target price 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. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $108.27.

Veralto Stock Performance

NYSE VLTO opened at $105.11 on Thursday. The company has a 50-day simple moving average of $108.32 and a two-hundred day simple moving average of $104.32. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 12-month low of $70.47 and a 12-month high of $115.00. The firm has a market cap of $25.99 billion and a price-to-earnings ratio of 32.44.

Veralto (NYSE:VLTO) last posted its quarterly 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 analyst estimates of $1.30 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is 11.11%.

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.