19,813 Veralto Corporation $VLTO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Veralto Corporation (NYSE:VLTO) by 3.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 545,848 shares of the company’s stock after selling 19,813 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Veralto were worth $51,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of VLTO. Arbejdsmarkedets Tillaegspension lifted its stake in Veralto by 23.4% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 291,695 shares of the company’s stock valued at $25,792,000 after acquiring an additional 55,348 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Veralto by 9.1% in the second quarter. Handelsbanken Fonder AB now owns 219,254 shares of the company’s stock worth $19,443,000 after acquiring an additional 18,277 shares during the period. Groupe la Francaise increased its stake in shares of Veralto by 18.4% in the second quarter. Groupe la Francaise now owns 130,703 shares of the company’s stock worth $11,594,000 after acquiring an additional 20,294 shares during the period. Formuepleje A S raised its holdings in shares of Veralto by 61.8% during the second quarter. Formuepleje A S now owns 42,528 shares of the company’s stock worth $3,771,000 after purchasing an additional 16,240 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Veralto during the second quarter worth $13,887,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the subject of a number of research reports. UBS Group boosted their target price on shares of Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Weiss Ratings raised Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Barclays lifted their price objective on Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank Of Canada boosted their price objective on Veralto from $109.00 to $121.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Stifel Nicolaus upped their target price on Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Veralto currently has a consensus rating of “Moderate Buy” and an average price target of $120.70.

Veralto Stock Performance

VLTO opened at $117.07 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.61. The firm has a fifty day moving average price of $99.27 and a 200 day moving average price of $93.34. Veralto Corporation has a 1 year low of $80.03 and a 1 year high of $118.41. The stock has a market cap of $28.46 billion, a P/E ratio of 28.98, a P/E/G ratio of 3.22 and a beta of 0.51.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. Equities research analysts anticipate that Veralto Corporation will post 4.51 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were given a $0.13 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s dividend payout ratio is 12.87%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 36,427 shares of Veralto stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $108.89, for a total value of $3,966,536.03. Following the completion of the transaction, the senior vice president owned 8,565 shares in the company, valued at $932,642.85. The trade was a 80.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jennifer Honeycutt sold 7,098 shares of Veralto stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $105.00, for a total value of $745,290.00. Following the completion of the transaction, the chief executive officer owned 120,060 shares of the company’s stock, valued at approximately $12,606,300. This represents a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 46,025 shares of company stock valued at $4,977,963 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

About Veralto

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.