UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 82,470 Shares of Veralto Co. (NYSE:VLTO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Veralto Co. (NYSE:VLTO) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,319,493 shares of the company’s stock after acquiring an additional 82,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Veralto were worth $259,458,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares during the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in shares of Veralto during the 2nd quarter worth about $39,343,000. Point72 Asset Management L.P. acquired a new position in shares of Veralto during the second quarter valued at about $24,618,000. Bank of Montreal Can lifted its stake in shares of Veralto by 106.0% in the third quarter. Bank of Montreal Can now owns 455,474 shares of the company’s stock valued at $50,239,000 after buying an additional 234,323 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Veralto during the second quarter worth about $20,913,000. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the sale, the senior vice president now owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,448 shares of company stock worth $1,698,675 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of Veralto stock opened at $108.22 on Friday. The stock has a market capitalization of $26.76 billion and a price-to-earnings ratio of 33.40. The firm’s 50-day moving average price is $108.00 and its two-hundred day moving average price is $104.81. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $0.75 EPS. Veralto’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. Veralto’s dividend payout ratio is 11.11%.

Wall Street Analysts Forecast Growth

Several research firms have commented on VLTO. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Royal Bank of Canada raised their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $108.27.

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.