Corundum Group Inc. Boosts Holdings in Veralto Corporation $VLTO

Corundum Group Inc. raised its holdings in Veralto Corporation (NYSE:VLTO) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,733 shares of the company’s stock after buying an additional 172 shares during the quarter. Corundum Group Inc.’s holdings in Veralto were worth $276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Nuveen LLC purchased a new stake in Veralto in the 1st quarter valued at about $172,399,000. Alliancebernstein L.P. lifted its stake in shares of Veralto by 28.0% in the 1st quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company’s stock valued at $607,656,000 after purchasing an additional 1,363,502 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Veralto by 8.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company’s stock valued at $1,027,264,000 after purchasing an additional 811,843 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Veralto by 26.8% in the 1st quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company’s stock valued at $314,137,000 after purchasing an additional 682,123 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Veralto by 162.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,064,810 shares of the company’s stock valued at $107,493,000 after purchasing an additional 658,529 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Veralto stock opened at $107.25 on Friday. The stock’s 50 day moving average price is $106.65 and its 200 day moving average price is $100.74. The firm has a market capitalization of $26.61 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 3.53 and a beta of 0.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. Veralto Corporation has a one year low of $83.86 and a one year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Veralto had a return on equity of 41.45% and a net margin of 16.65%.The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $0.85 EPS. Veralto’s revenue for the quarter was up 6.4% on a year-over-year basis. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. As a group, sell-side analysts expect that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.4%. Veralto’s payout ratio is currently 12.29%.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the sale, the chief executive officer directly owned 106,219 shares in the company, valued at $11,286,830.94. The trade was a 9.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price objective on Veralto and gave the company a “buy” rating in a research note on Wednesday, July 30th. Robert W. Baird lifted their price objective on Veralto from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Raymond James Financial initiated coverage on Veralto in a research note on Tuesday, August 26th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Veralto in a research report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $113.57.

About Veralto

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.