Bellecapital International Ltd. Invests $221,000 in Veralto Co. (NYSE:VLTO)

Bellecapital International Ltd. bought a new stake in Veralto Co. (NYSE:VLTO) during the third quarter, according to its most recent filing with the SEC. The firm bought 1,977 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors have also recently bought and sold shares of VLTO. Swedbank AB bought a new position in shares of Veralto in the first quarter worth about $237,864,000. Vanguard Group Inc. increased its position in Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after buying an additional 1,568,103 shares during the period. Capital International Investors lifted its holdings 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 buying an additional 553,021 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Veralto by 753.8% in the first quarter. Nordea Investment Management AB now owns 527,040 shares of the company’s stock valued at $47,154,000 after acquiring an additional 465,312 shares during the period. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Veralto in the second quarter worth $39,343,000. Institutional investors own 91.28% of the company’s stock.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction on Monday, September 30th. The stock was 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 of the company’s stock, valued at $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s 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 transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,039 shares of company stock valued at $4,310,335. Company insiders own 0.31% of the company’s stock.

Veralto Price Performance

VLTO stock traded down $0.76 during midday trading on Monday, reaching $112.84. 197,504 shares of the company’s stock traded hands, compared to its average volume of 1,549,720. The company has a 50-day simple moving average of $110.66 and a two-hundred day simple moving average of $102.18. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $114.61. The company has a market cap of $27.85 billion and a price-to-earnings ratio of 35.58.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts anticipate that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. Veralto’s payout ratio is 11.29%.

Analyst Upgrades and Downgrades

Several research firms recently commented on VLTO. UBS Group initiated coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.00.

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.