TT International Asset Management LTD Raises Position in Veralto Co. (NYSE:VLTO)

TT International Asset Management LTD lifted its stake in Veralto Co. (NYSE:VLTO) by 18.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,678 shares of the company’s stock after acquiring an additional 4,695 shares during the quarter. Veralto comprises approximately 0.4% of TT International Asset Management LTD’s portfolio, making the stock its 26th largest position. TT International Asset Management LTD’s holdings in Veralto were worth $3,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Veralto in the third quarter valued at about $25,000. Goodman Advisory Group LLC bought a new position in Veralto during the 2nd quarter worth approximately $26,000. Fairscale Capital LLC bought a new position in Veralto during the 2nd quarter worth approximately $30,000. Raleigh Capital Management Inc. lifted its stake in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Veralto in the third quarter valued at $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus lowered their price target on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.27.

Veralto Stock Down 1.9 %

Shares of Veralto stock opened at $100.10 on Monday. The firm has a market cap of $24.76 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 4.30 and a beta of 1.06. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The stock has a 50-day simple moving average of $104.19 and a 200-day simple moving average of $105.67.

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

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.11 dividend. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s payout ratio is currently 13.58%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

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.