Investment Management Corp of Ontario Raises Holdings in Veralto Co. (NYSE:VLTO)

Investment Management Corp of Ontario increased its position in Veralto Co. (NYSE:VLTO) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,808 shares of the company’s stock after acquiring an additional 2,061 shares during the period. Investment Management Corp of Ontario’s holdings in Veralto were worth $2,527,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of VLTO. Barclays PLC increased its stake in Veralto by 43.8% in the 3rd quarter. Barclays PLC now owns 729,081 shares of the company’s stock valued at $81,556,000 after purchasing an additional 222,076 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Veralto by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock valued at $273,906,000 after buying an additional 314,412 shares during the last quarter. First Hawaiian Bank grew its holdings in Veralto by 49.6% during the 4th quarter. First Hawaiian Bank now owns 3,883 shares of the company’s stock valued at $395,000 after buying an additional 1,287 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Veralto by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 70,415 shares of the company’s stock valued at $7,877,000 after buying an additional 218 shares during the last quarter. Finally, Czech National Bank grew its holdings in Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after buying an additional 3,284 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the sale, the senior vice president now directly owns 17,434 shares of the company’s stock, valued at approximately $1,633,042.78. The trade was a 64.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,578 shares of company stock worth $6,192,048 over the last quarter. 0.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Robert W. Baird increased their target price on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Royal Bank of Canada increased their target price on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, May 1st. Northcoast Research assumed coverage on Veralto in a report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective on the stock. Citigroup decreased their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus raised their price objective on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $110.09.

Veralto Price Performance

Shares of Veralto stock opened at $97.07 on Monday. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00. The stock has a market capitalization of $24.06 billion, a P/E ratio of 29.06, a PEG ratio of 4.24 and a beta of 0.99. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The business’s fifty day moving average price is $94.22 and its 200 day moving average price is $99.74.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, March 31st. Veralto’s dividend payout ratio is presently 12.57%.

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.