Geode Capital Management LLC Increases Stock Position in Veralto Co. (NYSE:VLTO)

Geode Capital Management LLC grew its stake in Veralto Co. (NYSE:VLTO) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,868,620 shares of the company’s stock after buying an additional 558,393 shares during the period. Geode Capital Management LLC’s holdings in Veralto were worth $654,232,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in Veralto in the third quarter worth $25,000. Goodman Advisory Group LLC bought a new stake in Veralto during the second quarter worth about $26,000. Fairscale Capital LLC purchased a new position in shares of Veralto in the 2nd quarter worth about $30,000. Hazlett Burt & Watson Inc. increased its position in shares of Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after purchasing an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.4 %

NYSE VLTO opened at $105.81 on Friday. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00. The stock has a market capitalization of $26.17 billion, a PE ratio of 32.66, a PEG ratio of 4.35 and a beta of 0.91. 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 business’s 50-day moving average is $107.29 and its 200 day moving average is $105.24.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The firm 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 business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Sell-side analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.34%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Analysts Set New Price Targets

Several brokerages have issued reports on VLTO. Stifel Nicolaus cut their target price on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday. They set a “buy” rating and a $125.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and a consensus target price of $109.50.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,695 shares of company stock valued at $1,615,017. 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.