OneDigital Investment Advisors LLC Decreases Stock Holdings in Veralto Co. (NYSE:VLTO)

OneDigital Investment Advisors LLC cut its position in Veralto Co. (NYSE:VLTO) by 11.7% in the third quarter, HoldingsChannel.com reports. The firm owned 4,785 shares of the company’s stock after selling 635 shares during the period. OneDigital Investment Advisors LLC’s holdings in Veralto were worth $535,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Capital International Investors raised its position in shares of Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after purchasing an additional 553,021 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after purchasing an additional 200,657 shares in the last quarter. Swedbank AB raised its holdings in shares of Veralto by 4.9% in the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after buying an additional 132,105 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Veralto by 1.7% during the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock worth $142,510,000 after buying an additional 24,246 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after buying an additional 757,389 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 1.1 %

Shares of NYSE:VLTO opened at $105.11 on Thursday. The business’s 50 day moving average price is $108.32 and its 200-day moving average price is $104.32. Veralto Co. has a 1 year low of $70.47 and a 1 year high of $115.00. The firm has a market capitalization of $25.99 billion and a price-to-earnings ratio of 32.44. 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 (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s payout ratio is 11.11%.

Analyst Ratings Changes

VLTO has been the topic of a number of research reports. TD Cowen increased their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird raised their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. The Goldman Sachs Group raised their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $108.27.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction on 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 directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now owns 11,918 shares in the company, valued at approximately $1,324,089.80. This represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is owned by insiders.

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.