Vanguard Group Inc. grew its stake in Veralto Corporation (NYSE:VLTO – Free Report) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,058,387 shares of the company’s stock after purchasing an additional 852,276 shares during the period. Vanguard Group Inc. owned about 12.51% of Veralto worth $3,311,135,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Pallas Capital Advisors LLC grew its position in Veralto by 55.7% during the third quarter. Pallas Capital Advisors LLC now owns 10,049 shares of the company’s stock worth $1,071,000 after buying an additional 3,595 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Veralto by 0.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 81,721 shares of the company’s stock valued at $8,712,000 after purchasing an additional 258 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Veralto by 2.1% in the third quarter. PNC Financial Services Group Inc. now owns 88,862 shares of the company’s stock valued at $9,474,000 after purchasing an additional 1,799 shares in the last quarter. ABN Amro Investment Solutions lifted its position in Veralto by 586.3% in the third quarter. ABN Amro Investment Solutions now owns 96,480 shares of the company’s stock worth $10,286,000 after purchasing an additional 82,422 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Veralto by 58.9% during the third quarter. HighTower Advisors LLC now owns 63,856 shares of the company’s stock worth $6,808,000 after buying an additional 23,669 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
Veralto Price Performance
Shares of Veralto stock opened at $94.37 on Thursday. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 2.63 and a beta of 0.89. The firm’s 50-day moving average price is $98.96 and its two-hundred day moving average price is $102.12. The company has a current ratio of 1.67, a quick ratio of 1.52 and a debt-to-equity ratio of 0.64. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $110.11.
Veralto Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 0.6%. Veralto’s dividend payout ratio (DPR) is currently 13.87%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on VLTO shares. Barclays restated an “overweight” rating and issued a $117.00 price objective on shares of Veralto in a research note on Thursday, February 5th. Stifel Nicolaus set a $118.00 price target on shares of Veralto in a research report on Thursday, February 5th. Jefferies Financial Group restated a “hold” rating on shares of Veralto in a research note on Wednesday, February 4th. Weiss Ratings lowered Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 31st. Finally, Robert W. Baird set a $108.00 target price on Veralto in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Veralto has a consensus rating of “Hold” and an average target price of $108.22.
Read Our Latest Analysis on Veralto
Insider Buying and Selling at Veralto
In other Veralto news, SVP Mattias Bystrom sold 1,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.73, for a total transaction of $101,730.00. Following the sale, the senior vice president owned 31,430 shares of the company’s stock, valued at $3,197,373.90. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.
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.
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