New York State Common Retirement Fund Cuts Holdings in Veralto Co. (NYSE:VLTO)

New York State Common Retirement Fund lessened its position in shares of Veralto Co. (NYSE:VLTO) by 13.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,632 shares of the company’s stock after selling 39,338 shares during the period. New York State Common Retirement Fund’s holdings in Veralto were worth $28,148,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VLTO. Daiwa Securities Group Inc. grew its holdings in shares of Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock worth $7,151,000 after purchasing an additional 35,433 shares during the period. Cetera Investment Advisers increased its position in shares of Veralto by 247.8% in the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after acquiring an additional 34,505 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Veralto by 19.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock worth $14,952,000 after acquiring an additional 27,891 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Veralto in the 1st quarter valued at $1,011,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Veralto during the 1st quarter valued at $2,372,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 directly owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,393,810. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,286 shares of company stock worth $3,912,305. 0.31% of the stock is currently owned by insiders.

Veralto Trading Down 0.6 %

NYSE VLTO opened at $101.59 on Monday. The company has a market capitalization of $25.12 billion and a price-to-earnings ratio of 31.35. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. Veralto Co. has a 12 month low of $66.69 and a 12 month high of $115.00. The company’s fifty day moving average price is $110.01 and its two-hundred day moving average price is $103.41.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. As a group, research analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. Veralto’s payout ratio is 11.11%.

Wall Street Analysts Forecast Growth

Several research firms have commented on VLTO. TD Cowen raised their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 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. UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $108.27.

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.