Fmr LLC Buys 162,347 Shares of Veralto Co. (NYSE:VLTO)

Fmr LLC grew its stake in Veralto Co. (NYSE:VLTO) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,329,717 shares of the company’s stock after purchasing an additional 162,347 shares during the period. Fmr LLC owned about 1.35% of Veralto worth $372,462,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in VLTO. The Manufacturers Life Insurance Company increased its stake in Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after acquiring an additional 15,048 shares during the period. Bank of Montreal Can boosted its stake in Veralto by 106.0% in the 3rd quarter. Bank of Montreal Can now owns 455,474 shares of the company’s stock valued at $50,239,000 after buying an additional 234,323 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after purchasing an additional 99 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in Veralto by 1.8% during the third quarter. Loomis Sayles & Co. L P now owns 321,007 shares of the company’s stock worth $35,908,000 after buying an additional 5,662 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Veralto by 6.6% during the third quarter. Daiwa Securities Group Inc. now owns 89,350 shares of the company’s stock worth $9,995,000 after buying an additional 5,562 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on VLTO shares. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report 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 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 report on Wednesday, October 16th. Finally, UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $108.27.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,448 shares of company stock valued at $1,698,675 in the last 90 days. 0.31% of the stock is owned by insiders.

Veralto Trading Up 0.2 %

Shares of NYSE VLTO opened at $108.19 on Friday. The company’s 50 day simple moving average is $108.00 and its 200 day simple moving average is $104.86. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. The firm has a market capitalization of $26.76 billion and a P/E ratio of 33.39.

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, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. On average, analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. 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.