KBC Group NV Increases Stake in Veralto Co. (NYSE:VLTO)

KBC Group NV boosted its holdings in shares of Veralto Co. (NYSE:VLTO) by 22.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 733,822 shares of the company’s stock after buying an additional 132,382 shares during the quarter. KBC Group NV owned 0.30% of Veralto worth $82,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto during the third quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the 2nd quarter worth approximately $26,000. LRI Investments LLC acquired a new position in Veralto during the 1st quarter worth approximately $30,000. Fairscale Capital LLC purchased a new stake in shares of Veralto in the 2nd quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 1.0 %

VLTO opened at $104.82 on Thursday. The business has a 50 day moving average price of $108.95 and a two-hundred day moving average price of $104.00. Veralto Co. has a 52 week low of $70.06 and a 52 week high of $115.00. The company has a market cap of $25.92 billion and a PE ratio of 32.35. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last issued its quarterly 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 the consensus estimate 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 last year, the company earned $0.75 earnings per share. As a group, research analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. Veralto’s dividend payout ratio (DPR) is 11.11%.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’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 completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,038 shares of company stock valued at $3,989,693 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the subject of a number of analyst reports. Royal Bank of Canada boosted their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Stifel Nicolaus upped their price objective on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Seven 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.com, the company has an average rating of “Hold” and an average price target 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.