Veralto Corporation $VLTO Stake Lowered by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG trimmed its stake in shares of Veralto Corporation (NYSE:VLTO) by 40.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,303 shares of the company’s stock after selling 20,645 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Veralto were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VLTO. Harbor Asset Planning Inc. bought a new stake in Veralto in the second quarter valued at $26,000. Root Financial Partners LLC bought a new stake in Veralto in the 3rd quarter valued at about $27,000. Loomis Sayles & Co. L P bought a new stake in Veralto in the 2nd quarter valued at about $28,000. True Wealth Design LLC boosted its stake in Veralto by 852.9% during the 3rd quarter. True Wealth Design LLC now owns 324 shares of the company’s stock valued at $35,000 after purchasing an additional 290 shares during the period. Finally, Headlands Technologies LLC bought a new position in Veralto in the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on VLTO. Royal Bank Of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Weiss Ratings cut Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 31st. Barclays boosted their price target on Veralto from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. BMO Capital Markets decreased their price target on Veralto from $123.00 to $114.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Finally, Jefferies Financial Group restated a “hold” rating and set a $105.00 price objective (down from $125.00) on shares of Veralto in a research note on Wednesday, December 10th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and an average target price of $112.89.

Veralto Trading Down 1.2%

Shares of Veralto stock opened at $100.63 on Wednesday. The business has a fifty day simple moving average of $100.86 and a 200-day simple moving average of $103.08. Veralto Corporation has a fifty-two week low of $83.86 and a fifty-two week high of $110.11. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 2.90 and a beta of 0.88. The company has a quick ratio of 1.40, a current ratio of 1.57 and a debt-to-equity ratio of 0.69.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Veralto had a net margin of 16.75% and a return on equity of 38.69%. Veralto’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. On average, equities analysts forecast that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 0.5%. Veralto’s payout ratio is 14.25%.

Insider Transactions at Veralto

In other Veralto news, SVP Mattias Bystrom sold 1,000 shares of Veralto stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $101.73, for a total value of $101,730.00. Following the transaction, the senior vice president owned 31,430 shares in the company, valued at approximately $3,197,373.90. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.