Vontobel Holding Ltd. Acquires 6,096 Shares of Veralto Co. (NYSE:VLTO)

Vontobel Holding Ltd. increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 525,660 shares of the company’s stock after purchasing an additional 6,096 shares during the quarter. Vontobel Holding Ltd.’s holdings in Veralto were worth $58,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goodman Advisory Group LLC bought a new position in shares of Veralto during the second quarter valued at $26,000. Fairscale Capital LLC purchased a new stake in Veralto during the second quarter valued at $30,000. LRI Investments LLC purchased a new stake in Veralto during the first quarter valued at $30,000. Hazlett Burt & Watson Inc. increased its position in Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Veralto during the fourth quarter valued at $32,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VLTO. Royal Bank of Canada upped their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. TD Cowen upped their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Stifel Nicolaus upped their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $105.83.

Insider Activity at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at $1,256,620.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,039 shares of company stock valued at $4,310,335. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE VLTO traded up $0.36 during mid-day trading on Wednesday, reaching $113.24. The company’s stock had a trading volume of 180,655 shares, compared to its average volume of 1,542,950. The stock has a fifty day moving average of $110.22 and a two-hundred day moving average of $101.63. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $114.61. The firm has a market capitalization of $27.98 billion and a PE ratio of 35.54. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Veralto Co. will post 3.45 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, September 27th. Veralto’s payout ratio is presently 11.29%.

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.