QRG Capital Management Inc. Raises Position in Veralto Co. (NYSE:VLTO)

QRG Capital Management Inc. grew its position in shares of Veralto Co. (NYSE:VLTO) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,412 shares of the company’s stock after buying an additional 2,051 shares during the quarter. QRG Capital Management Inc.’s holdings in Veralto were worth $2,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in VLTO. Cetera Investment Advisers boosted its stake in Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after purchasing an additional 34,505 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Veralto by 19.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock valued at $14,952,000 after purchasing an additional 27,891 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Veralto during the first quarter valued at $1,011,000. Canada Pension Plan Investment Board increased its holdings in Veralto by 32.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock worth $23,256,000 after buying an additional 60,300 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Veralto by 2,006.4% in the 1st quarter. SG Americas Securities LLC now owns 186,730 shares of the company’s stock worth $16,555,000 after buying an additional 177,865 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Down 0.6 %

Shares of Veralto stock opened at $102.99 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a fifty day moving average of $109.53 and a 200 day moving average of $103.61. The company has a market capitalization of $25.47 billion and a P/E ratio of 31.79. Veralto Co. has a fifty-two week low of $67.36 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a dividend of $0.09 per share. 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 0.35%. Veralto’s dividend payout ratio is 11.11%.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of recent analyst reports. 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 target on the stock. Stifel Nicolaus lifted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets increased their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $108.27.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,038 shares of company stock valued at $3,989,693. Corporate insiders own 0.31% of the company’s stock.

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.