Veralto Co. (NYSE:VLTO) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Veralto Co. (NYSE:VLTO) by 20.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 401,979 shares of the company’s stock after purchasing an additional 67,736 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veralto were worth $44,965,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. FORA Capital LLC acquired a new position in shares of Veralto during the third quarter valued at $5,554,000. MetLife Investment Management LLC grew its position in Veralto by 7.9% in the 3rd quarter. MetLife Investment Management LLC now owns 69,306 shares of the company’s stock valued at $7,753,000 after buying an additional 5,070 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in Veralto during the 3rd quarter valued at about $453,000. Glenmede Trust Co. NA raised its position in shares of Veralto by 8.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,947 shares of the company’s stock worth $665,000 after buying an additional 465 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in shares of Veralto by 113.4% in the 3rd quarter. Townsquare Capital LLC now owns 4,754 shares of the company’s stock worth $532,000 after acquiring an additional 2,526 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Up 0.0 %

NYSE:VLTO opened at $107.97 on Friday. Veralto Co. has a 1-year low of $72.85 and a 1-year high of $115.00. The firm has a market capitalization of $26.70 billion and a price-to-earnings ratio of 33.32. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average price is $108.02 and its 200 day moving average price is $104.72.

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

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VLTO shares. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. 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. Finally, Royal Bank of Canada boosted their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $108.27.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,448 shares of company stock valued at $1,698,675. 0.31% of the stock is owned by insiders.

Veralto 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.