TT International Asset Management LTD Boosts Holdings in Veralto Co. (NYSE:VLTO)

TT International Asset Management LTD grew its stake in shares of Veralto Co. (NYSE:VLTO) by 18.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,678 shares of the company’s stock after purchasing an additional 4,695 shares during the quarter. Veralto makes up approximately 0.4% of TT International Asset Management LTD’s investment portfolio, making the stock its 26th largest position. TT International Asset Management LTD’s holdings in Veralto were worth $3,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its stake in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares during the period. State Street Corp boosted its position in Veralto by 9.8% in the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after purchasing an additional 860,608 shares in the last quarter. Principal Financial Group Inc. boosted its position in Veralto by 207.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after buying an additional 558,393 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Veralto by 29.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock valued at $208,511,000 after purchasing an additional 418,588 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on VLTO shares. Royal Bank of Canada raised their price objective 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 cut their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. BMO Capital Markets raised their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group started coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $111.27.

Veralto Trading Down 1.9 %

VLTO opened at $100.10 on Monday. The firm has a market cap of $24.76 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 4.30 and a beta of 1.06. Veralto Co. has a 52 week low of $73.91 and a 52 week high of $115.00. The business’s 50 day moving average is $104.19 and its two-hundred day moving average is $105.67. 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 posted its quarterly earnings results 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. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. On average, research analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s payout ratio is presently 13.58%.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.