Thematics Asset Management Sells 15,000 Shares of Veralto Co. (NYSE:VLTO)

Thematics Asset Management trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,882 shares of the company’s stock after selling 15,000 shares during the period. Thematics Asset Management owned about 0.05% of Veralto worth $14,305,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VLTO. Brooklyn Investment Group bought a new position in Veralto in the 3rd quarter worth $182,000. Quantbot Technologies LP lifted its holdings in Veralto by 77.1% in the third quarter. Quantbot Technologies LP now owns 149,756 shares of the company’s stock worth $16,752,000 after buying an additional 65,213 shares during the period. FMR LLC grew its holdings in shares of Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after acquiring an additional 162,347 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after purchasing an additional 15,048 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Veralto by 106.0% in the third quarter. Bank of Montreal Can now owns 455,474 shares of the company’s stock worth $50,239,000 after purchasing an additional 234,323 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,639 shares of company stock worth $3,175,803 in the last three months. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VLTO. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. UBS Group began coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. 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 has a consensus rating of “Hold” and an average target price of $108.27.

Veralto Price Performance

Shares of VLTO stock traded down $0.14 on Tuesday, hitting $108.34. 159,626 shares of the stock traded hands, compared to its average volume of 1,536,007. The firm has a market cap of $26.79 billion and a price-to-earnings ratio of 33.48. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The firm has a 50 day simple moving average of $108.08 and a two-hundred day simple moving average of $104.59. Veralto Co. has a 52 week low of $72.85 and a 52 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 (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company 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 company earned $0.75 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

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.