Headinvest LLC Trims Holdings in Veralto Co. (NYSE:VLTO)

Headinvest LLC decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 4.7% in the third quarter, HoldingsChannel reports. The firm owned 3,332 shares of the company’s stock after selling 166 shares during the quarter. Headinvest LLC’s holdings in Veralto were worth $373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Canada Pension Plan Investment Board raised its holdings in shares of Veralto by 32.9% during the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock valued at $23,256,000 after acquiring an additional 60,300 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Veralto by 126.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock valued at $6,460,000 after purchasing an additional 37,721 shares during the period. PGGM Investments bought a new position in Veralto in the 2nd quarter worth $1,528,000. Mirova US LLC lifted its position in shares of Veralto by 2.2% in the 2nd quarter. Mirova US LLC now owns 1,055,767 shares of the company’s stock worth $100,794,000 after purchasing an additional 22,324 shares during the period. Finally, Northstar Asset Management Inc. boosted its stake in shares of Veralto by 22.5% during the 3rd quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock valued at $8,762,000 after purchasing an additional 14,398 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus lifted their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veralto currently has a consensus rating of “Hold” and a consensus target price of $108.27.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,695 shares of company stock valued at $1,615,017. Corporate insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $106.53 on Monday. The business has a fifty day moving average price of $107.58 and a 200-day moving average price of $105.16. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company has a market capitalization of $26.35 billion, a PE ratio of 32.88, a PEG ratio of 4.39 and a beta of 0.91. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $0.75 EPS. Veralto’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a dividend of $0.09 per share. 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 is 11.11%.

Veralto Company 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.