Empire Life Investments Inc. Trims Holdings in Veralto Co. (NYSE:VLTO)

Empire Life Investments Inc. decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 1.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 28,422 shares of the company’s stock after selling 337 shares during the period. Empire Life Investments Inc.’s holdings in Veralto were worth $3,179,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after buying an additional 100 shares during the last quarter. Strategic Blueprint LLC boosted its stake in shares of Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after buying an additional 102 shares in the last quarter. Perkins Coie Trust Co grew its stake in shares of Veralto by 1.8% during the 3rd quarter. Perkins Coie Trust Co now owns 7,253 shares of the company’s stock worth $811,000 after purchasing an additional 125 shares during the period. Toth Financial Advisory Corp grew its position in Veralto by 16.1% during the third quarter. Toth Financial Advisory Corp now owns 910 shares of the company’s stock worth $102,000 after buying an additional 126 shares during the period. Finally, Private Advisor Group LLC increased its stake in Veralto by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 15,282 shares of the company’s stock valued at $1,709,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,393,810. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,286 shares of company stock worth $3,912,305 over the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on VLTO. BMO Capital Markets lifted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. TD Cowen lifted their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus raised their target price on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto currently has an average rating of “Hold” and an average price target of $108.27.

Veralto Stock Down 0.6 %

Shares of NYSE:VLTO opened at $101.59 on Friday. Veralto Co. has a 52 week low of $66.69 and a 52 week high of $115.00. The company has a 50 day moving average price of $110.01 and a two-hundred day moving average price of $103.32. The company has a market capitalization of $25.12 billion and a PE ratio of 31.35. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s payout ratio is presently 11.11%.

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.