Factory Mutual Insurance Co. Trims Stock Position in Veralto Co. (NYSE:VLTO)

Factory Mutual Insurance Co. trimmed its stake in Veralto Co. (NYSE:VLTO) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,166 shares of the company’s stock after selling 3,299 shares during the period. Factory Mutual Insurance Co. owned approximately 0.10% of Veralto worth $28,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goodman Advisory Group LLC purchased a new stake in Veralto in the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new position in shares of Veralto in the 1st quarter valued at $30,000. Fairscale Capital LLC purchased a new stake in Veralto in the 2nd quarter valued at $30,000. Newbridge Financial Services Group Inc. acquired a new stake in Veralto during the 4th quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. grew its position in Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

VLTO stock traded up $1.28 during trading on Friday, reaching $113.13. 1,365,641 shares of the company were exchanged, compared to its average volume of 1,727,725. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $114.18. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The company has a market cap of $27.93 billion and a P/E ratio of 35.46. The stock’s 50 day moving average price is $109.82 and its 200 day moving average price is $101.20.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. Veralto’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts predict that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.29%.

Insider Activity

In other news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock worth $4,310,335 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VLTO shares. Robert W. Baird upped 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. TD Cowen increased their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price target on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $105.67.

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.