Bank of New York Mellon Corp Has $360.10 Million Stock Position in Veralto Corporation $VLTO

Bank of New York Mellon Corp lessened its holdings in shares of Veralto Corporation (NYSE:VLTO) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,377,754 shares of the company’s stock after selling 397,013 shares during the quarter. Bank of New York Mellon Corp’s holdings in Veralto were worth $360,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PFG Investments LLC increased its holdings in shares of Veralto by 2.7% in the third quarter. PFG Investments LLC now owns 3,792 shares of the company’s stock worth $404,000 after acquiring an additional 100 shares in the last quarter. Strategic Blueprint LLC increased its stake in Veralto by 4.3% during the 3rd quarter. Strategic Blueprint LLC now owns 2,543 shares of the company’s stock worth $271,000 after purchasing an additional 105 shares in the last quarter. Capital Counsel LLC NY increased its stake in Veralto by 0.8% during the 2nd quarter. Capital Counsel LLC NY now owns 15,010 shares of the company’s stock worth $1,515,000 after purchasing an additional 115 shares in the last quarter. City Holding Co. raised its holdings in Veralto by 0.5% during the 3rd quarter. City Holding Co. now owns 21,345 shares of the company’s stock worth $2,276,000 after buying an additional 115 shares during the period. Finally, Huntleigh Advisors Inc. lifted its stake in Veralto by 0.5% in the second quarter. Huntleigh Advisors Inc. now owns 28,286 shares of the company’s stock valued at $2,856,000 after buying an additional 134 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

Shares of VLTO opened at $98.61 on Friday. The company has a market cap of $24.49 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.81 and a beta of 0.88. The firm has a 50-day moving average of $100.89 and a 200-day moving average of $103.02. Veralto Corporation has a one year low of $83.86 and a one year high of $110.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 1.40.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, October 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. Veralto had a net margin of 16.75% and a return on equity of 38.69%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $0.89 EPS. Veralto’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.13 dividend. The ex-dividend date of this dividend 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 dividend yield of 0.5%. Veralto’s payout ratio is 14.25%.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.73, for a total transaction of $101,730.00. Following the transaction, the senior vice president directly owned 31,430 shares of the company’s stock, valued at approximately $3,197,373.90. The trade was a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VLTO shares. UBS Group upped their target price on shares of Veralto from $110.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings lowered shares of Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 31st. Royal Bank Of Canada increased their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. BMO Capital Markets lowered their target price on Veralto from $123.00 to $114.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Finally, Citigroup reduced their price target on Veralto from $112.00 to $111.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.89.

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