Associated Banc Corp Cuts Stock Holdings in Veralto Co. (NYSE:VLTO)

Associated Banc Corp decreased its position in shares of Veralto Co. (NYSE:VLTO) by 2.9% during the third quarter, HoldingsChannel reports. The firm owned 21,621 shares of the company’s stock after selling 654 shares during the period. Associated Banc Corp’s holdings in Veralto were worth $2,419,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted 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 acquiring an additional 200,657 shares during the last quarter. Swedbank AB increased its stake in Veralto by 4.9% in the 2nd 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 period. Charles Schwab Investment Management Inc. lifted its position in Veralto by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company’s stock valued at $173,351,000 after purchasing an additional 141,209 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Veralto by 1.7% during the second 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 period. Finally, Principal Financial Group Inc. boosted its stake in shares of Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on VLTO. Stifel Nicolaus upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Stock Up 1.9 %

VLTO opened at $108.48 on Tuesday. The stock has a market capitalization of $26.83 billion and a price-to-earnings ratio of 33.48. The firm has a 50 day moving average price of $108.08 and a 200-day moving average price of $104.59. Veralto Co. has a twelve month low of $72.85 and a twelve month high of $115.00. 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 (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last 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 research analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. Veralto’s dividend payout ratio is currently 11.11%.

Insider Activity at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 in the company, valued at $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,639 shares of company stock worth $3,175,803. Corporate 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.