Northwest & Ethical Investments L.P. Sells 25,657 Shares of Veralto Co. (NYSE:VLTO)

Northwest & Ethical Investments L.P. cut its position in shares of Veralto Co. (NYSE:VLTO) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,540 shares of the company’s stock after selling 25,657 shares during the period. Northwest & Ethical Investments L.P. owned 0.08% of Veralto worth $22,768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VLTO. PEAK6 Investments LLC raised its stake in Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock valued at $977,000 after acquiring an additional 6,211 shares during the period. Public Sector Pension Investment Board raised its position in shares of Veralto by 119.6% in the third quarter. Public Sector Pension Investment Board now owns 10,834 shares of the company’s stock valued at $1,212,000 after purchasing an additional 5,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Veralto by 3.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,493 shares of the company’s stock worth $259,458,000 after buying an additional 82,470 shares during the last quarter. Fiduciary Trust Co lifted its stake in shares of Veralto by 10.7% during the 3rd quarter. Fiduciary Trust Co now owns 11,809 shares of the company’s stock worth $1,321,000 after buying an additional 1,140 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Veralto by 20.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 401,979 shares of the company’s stock worth $44,965,000 after buying an additional 67,736 shares during the period. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

Shares of NYSE:VLTO traded up $0.01 during midday trading on Thursday, hitting $107.97. The stock had a trading volume of 675,082 shares, compared to its average volume of 1,537,581. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $26.70 billion and a P/E ratio of 33.32. The company’s 50-day moving average price is $108.06 and its 200-day moving average price is $104.70. Veralto Co. has a fifty-two week low of $72.85 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating 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 firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on VLTO. BMO Capital Markets increased 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. UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $108.27.

Veralto Profile

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.