Daiwa Securities Group Inc. Purchases 5,562 Shares of Veralto Co. (NYSE:VLTO)

Daiwa Securities Group Inc. lifted its holdings in Veralto Co. (NYSE:VLTO) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,350 shares of the company’s stock after purchasing an additional 5,562 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Veralto were worth $9,995,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of VLTO. CreativeOne Wealth LLC purchased a new position in shares of Veralto in the 1st quarter worth $270,000. LRI Investments LLC purchased a new position in Veralto in the first quarter worth about $30,000. PEAK6 Investments LLC increased its stake in Veralto by 20.7% during the first quarter. PEAK6 Investments LLC now owns 2,655 shares of the company’s stock worth $235,000 after acquiring an additional 456 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Veralto during the first quarter valued at approximately $23,394,000. Finally, Tidal Investments LLC lifted its stake in shares of Veralto by 40.8% in the 1st quarter. Tidal Investments LLC now owns 14,855 shares of the company’s stock valued at $1,317,000 after purchasing an additional 4,303 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Stifel Nicolaus increased their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Robert W. Baird upped their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $108.27.

Veralto Price Performance

VLTO opened at $106.41 on Monday. The firm has a market capitalization of $26.32 billion and a PE ratio of 32.84. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The business’s 50-day moving average is $108.11 and its two-hundred day moving average is $104.50. Veralto Co. has a 1 year low of $72.23 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. Veralto’s dividend payout ratio is presently 11.11%.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the sale, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,639 shares of company stock valued at $3,175,803 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

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.