Kentucky Retirement Systems Has $1.93 Million Stake in Veralto Co. (NYSE:VLTO)

Kentucky Retirement Systems grew its holdings in shares of Veralto Co. (NYSE:VLTOFree Report) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,215 shares of the company’s stock after purchasing an additional 660 shares during the period. Kentucky Retirement Systems’ holdings in Veralto were worth $1,926,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in Veralto during the third quarter worth about $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the 2nd quarter worth approximately $26,000. LRI Investments LLC acquired a new stake in shares of Veralto during the 1st quarter worth approximately $30,000. Fairscale Capital LLC acquired a new stake in shares of Veralto during the 2nd quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Trading Down 0.4 %

VLTO opened at $102.68 on Monday. 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 fifty-two week low of $70.06 and a fifty-two week high of $115.00. The company’s 50 day moving average price is $108.57 and its two-hundred day moving average price is $104.13. The firm has a market capitalization of $25.39 billion and a price-to-earnings ratio of 31.69.

Veralto (NYSE:VLTOGet Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, research analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s payout ratio is presently 11.11%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Stifel Nicolaus raised their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group assumed coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Robert W. Baird upped their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus target price of $108.27.

View Our Latest Stock Report on Veralto

About Veralto

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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