599,850 Veralto Corporation $VLTO Shares Bought by M&G PLC

M&G PLC boosted its holdings in shares of Veralto Corporation (NYSE:VLTO) by 265.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 826,232 shares of the company’s stock after buying an additional 599,850 shares during the quarter. M&G PLC’s holdings in Veralto were worth $77,666,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. MGO One Seven LLC increased its holdings in Veralto by 3.2% during the third quarter. MGO One Seven LLC now owns 3,477 shares of the company’s stock valued at $328,000 after buying an additional 107 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Veralto by 5.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,751 shares of the company’s stock worth $244,000 after acquiring an additional 131 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Veralto by 1.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 12,100 shares of the company’s stock valued at $1,198,000 after acquiring an additional 141 shares during the period. Nolet Wealth Management LLC grew its position in shares of Veralto by 1.0% during the 2nd quarter. Nolet Wealth Management LLC now owns 15,277 shares of the company’s stock valued at $1,355,000 after acquiring an additional 146 shares during the period. Finally, North Dakota State Investment Board grew its position in shares of Veralto by 2.0% during the 3rd quarter. North Dakota State Investment Board now owns 7,517 shares of the company’s stock valued at $709,000 after acquiring an additional 150 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Price Performance

Shares of NYSE:VLTO opened at $117.95 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.61. Veralto Corporation has a 1-year low of $80.03 and a 1-year high of $119.03. The company has a market capitalization of $28.68 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.24 and a beta of 0.51. The firm’s 50 day simple moving average is $100.39 and its two-hundred day simple moving average is $93.57.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Research analysts expect that Veralto Corporation will post 4.51 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Veralto’s dividend payout ratio is currently 12.87%.

Insider Activity

In other Veralto news, SVP Mattias Byström sold 9,069 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $116.30, for a total value of $1,054,724.70. Following the completion of the sale, the senior vice president owned 35,536 shares in the company, valued at approximately $4,132,836.80. This represents a 20.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 7,098 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $105.00, for a total value of $745,290.00. Following the completion of the sale, the chief executive officer owned 120,060 shares of the company’s stock, valued at $12,606,300. The trade was a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 55,094 shares of company stock worth $6,032,688. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup upped their price objective on Veralto from $107.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Barclays lifted their target price on Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Wolfe Research started coverage on Veralto in a report on Tuesday, September 15th. They set an “outperform” rating and a $125.00 price target for the company. Wall Street Zen cut Veralto from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Stifel Nicolaus raised their price objective on Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.70.

Veralto Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging.

Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.