Veralto Co. (NYSE:VLTO) Holdings Trimmed by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in shares of Veralto Co. (NYSE:VLTO) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,123 shares of the company’s stock after selling 230 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Veralto were worth $1,916,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Toronto Dominion Bank raised its position in Veralto by 11.1% during the third quarter. Toronto Dominion Bank now owns 123,559 shares of the company’s stock valued at $13,821,000 after buying an additional 12,350 shares during the period. Coldstream Capital Management Inc. grew its stake in Veralto by 1.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,295 shares of the company’s stock valued at $703,000 after acquiring an additional 116 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the period. Duff & Phelps Investment Management Co. lifted its position in shares of Veralto by 28.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 265,019 shares of the company’s stock worth $29,645,000 after purchasing an additional 59,200 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Veralto by 43.8% during the third quarter. Barclays PLC now owns 729,081 shares of the company’s stock worth $81,556,000 after purchasing an additional 222,076 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of Veralto stock opened at $104.23 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a fifty day simple moving average of $106.89 and a 200-day simple moving average of $105.38. The stock has a market capitalization of $25.78 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 4.30 and a beta of 0.91. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The company 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 business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. On average, sell-side analysts expect that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. BMO Capital Markets lifted their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Stifel Nicolaus dropped their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.50.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated 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 owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,695 shares of company stock worth $1,615,017 over the last three months. 0.31% of the stock is currently owned by insiders.

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.