abrdn plc Has $121.05 Million Stock Position in Veralto Co. (NYSE:VLTO)

abrdn plc lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,090,949 shares of the company’s stock after purchasing an additional 43,945 shares during the quarter. abrdn plc owned approximately 0.44% of Veralto worth $121,052,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its holdings in shares of Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock worth $7,151,000 after buying an additional 35,433 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after buying an additional 34,505 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Veralto by 19.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock worth $14,952,000 after buying an additional 27,891 shares during the period. Seven Eight Capital LP bought a new stake in shares of Veralto during the 1st quarter worth $1,011,000. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Veralto during the 1st quarter worth $2,372,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Trading Down 0.0 %

Shares of Veralto stock opened at $104.00 on Tuesday. The stock has a market capitalization of $25.67 billion and a P/E ratio of 32.10. 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 50-day simple moving average of $110.64 and a 200 day simple moving average of $103.05. Veralto Co. has a 12-month low of $66.69 and a 12-month high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. Research analysts expect that Veralto Co. will post 3.47 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is currently 11.11%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Stifel Nicolaus increased their price target on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased 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 raised their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $108.27.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,039 shares of company stock worth $3,992,665. 0.31% of the stock is currently owned by corporate insiders.

Veralto Company 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.