Veralto Corporation $VLTO Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in Veralto Corporation (NYSE:VLTO) by 8.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 117,656 shares of the company’s stock after acquiring an additional 9,311 shares during the period. Asset Management One Co. Ltd.’s holdings in Veralto were worth $11,877,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VLTO. Brighton Jones LLC raised its holdings in Veralto by 16.1% in the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company’s stock valued at $352,000 after acquiring an additional 479 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Veralto by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company’s stock valued at $856,000 after acquiring an additional 113 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Veralto by 13.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,484 shares of the company’s stock worth $437,000 after buying an additional 529 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Veralto by 15.6% during the 1st quarter. Spire Wealth Management now owns 3,172 shares of the company’s stock worth $309,000 after buying an additional 428 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in shares of Veralto by 13.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 4,976 shares of the company’s stock worth $485,000 after buying an additional 601 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction on Friday, August 29th. The shares were sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the completion of the sale, the chief executive officer directly owned 106,219 shares of the company’s stock, valued at approximately $11,286,830.94. The trade was a 9.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Veralto from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Veralto in a report on Friday. Wolfe Research upgraded shares of Veralto from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Barclays dropped their target price on shares of Veralto from $120.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, October 6th. Finally, Royal Bank Of Canada raised their price target on shares of Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.43.

Veralto Price Performance

Veralto stock opened at $104.72 on Monday. The stock has a market cap of $25.99 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 3.45 and a beta of 0.90. The company has a fifty day simple moving average of $105.67 and a 200-day simple moving average of $101.74. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $110.11. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Equities analysts expect that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Veralto’s payout ratio is 12.29%.

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.