Veralto Corporation $VLTO Holdings Increased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in shares of Veralto Corporation (NYSE:VLTO – Free Report) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,285,938 shares of the company’s stock after purchasing an additional 255,749 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Veralto were worth $309,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Veralto by 31.5% in the 1st quarter. First Trust Advisors LP now owns 6,150,388 shares of the company’s stock valued at $543,817,000 after purchasing an additional 1,472,304 shares in the last quarter. Amundi grew its holdings in shares of Veralto by 16.3% in the 1st quarter. Amundi now owns 3,797,526 shares of the company’s stock worth $335,785,000 after purchasing an additional 531,478 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Veralto during the 2nd quarter worth about $235,200,000. Janus Henderson Group PLC increased its position in shares of Veralto by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,095,393 shares of the company’s stock worth $185,266,000 after purchasing an additional 69,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Veralto by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,788,026 shares of the company’s stock worth $158,063,000 after purchasing an additional 252,267 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

Shares of VLTO stock opened at $117.06 on Friday. The stock’s fifty day moving average is $100.00 and its 200-day moving average is $93.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.61 and a current ratio of 2.03. The stock has a market capitalization of $28.46 billion, a PE ratio of 28.97, a PEG ratio of 3.25 and a beta of 0.51. Veralto Corporation has a 52 week low of $80.03 and a 52 week high of $119.03.

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

Veralto Dividend Announcement

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

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 7,098 shares of the firm’s stock in a transaction dated Friday, October 23rd. The shares were 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 in the company, valued at approximately $12,606,300. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mattias Byström sold 9,069 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total transaction of $1,054,724.70. Following the completion of the sale, the senior vice president owned 35,536 shares of the company’s stock, valued at $4,132,836.80. The trade was a 20.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,094 shares of company stock worth $6,032,688 in the last quarter. Insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VLTO shares. Wolfe Research started coverage on shares of Veralto in a report on Tuesday, September 15th. They set an “outperform” rating and a $125.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Veralto from $109.00 to $121.00 and gave the stock a “sector perform” rating in a research note on Monday, November 2nd. Barclays raised their price objective on shares of Veralto from $117.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Wall Street Zen cut shares of Veralto from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Citigroup lifted their target price on shares of Veralto from $107.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.70.

Read Our Latest Analysis on VLTO

About Veralto

(Free Report)

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.

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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