Van ECK Associates Corp Raises Stock Position in Veralto Co. (NYSE:VLTO)

Van ECK Associates Corp increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,906 shares of the company’s stock after purchasing an additional 951 shares during the period. Van ECK Associates Corp’s holdings in Veralto were worth $9,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its position in Veralto by 7.4% in the first quarter. Private Advisor Group LLC now owns 14,153 shares of the company’s stock valued at $1,255,000 after acquiring an additional 970 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Veralto by 9.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 34,290 shares of the company’s stock valued at $3,040,000 after purchasing an additional 3,018 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Veralto during the 1st quarter worth $230,000. Empirical Finance LLC lifted its holdings in Veralto by 3.5% in the 1st quarter. Empirical Finance LLC now owns 7,830 shares of the company’s stock worth $694,000 after buying an additional 267 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Veralto by 6.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,645 shares of the company’s stock valued at $3,604,000 after buying an additional 2,494 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,393,810. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,038 shares of company stock valued at $3,989,693 in the last quarter. Company insiders own 0.31% of the company’s stock.

Veralto Price Performance

VLTO opened at $102.99 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $109.53 and its 200 day moving average price is $103.61. Veralto Co. has a fifty-two week low of $67.36 and a fifty-two week high of $115.00. The firm has a market cap of $25.47 billion and a price-to-earnings ratio of 31.79.

Veralto (NYSE:VLTO) last announced 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 the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. As a group, sell-side analysts expect that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. Veralto’s dividend payout ratio is currently 11.11%.

Analyst Ratings Changes

Several research firms recently commented on VLTO. Royal Bank of Canada boosted their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. Finally, Stifel Nicolaus boosted 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Veralto currently has a consensus rating of “Hold” and an average price target of $108.27.

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.