Fifth Third Wealth Advisors LLC Raises Stock Position in Veralto Co. (NYSE:VLTO)

Fifth Third Wealth Advisors LLC grew its holdings in Veralto Co. (NYSE:VLTO) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,041 shares of the company’s stock after acquiring an additional 195 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Veralto were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Cetera Investment Advisers boosted its stake in Veralto by 247.8% in the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after purchasing an additional 34,505 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Veralto by 32.9% during the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock worth $23,256,000 after acquiring an additional 60,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Veralto by 126.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock valued at $6,460,000 after acquiring an additional 37,721 shares in the last quarter. PGGM Investments bought a new stake in Veralto in the 2nd quarter valued at $1,528,000. Finally, Mirova US LLC lifted its stake in Veralto by 2.2% in the 2nd quarter. Mirova US LLC now owns 1,055,767 shares of the company’s stock worth $100,794,000 after purchasing an additional 22,324 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Robert W. Baird raised their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada upped their price target 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. Finally, UBS Group initiated coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $108.27.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 28,639 shares of company stock worth $3,175,803. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Performance

Veralto stock opened at $106.01 on Friday. The firm has a market capitalization of $26.22 billion and a P/E ratio of 32.72. The company’s 50-day moving average is $108.18 and its 200 day moving average is $104.33. Veralto Co. has a 1-year low of $72.23 and a 1-year high of $115.00. 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 posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business earned $0.75 EPS. Veralto’s revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

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

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.