Mirae Asset Global Investments Co. Ltd. Buys New Holdings in Veralto Corporation $VLTO

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Veralto Corporation (NYSE:VLTO) during the third quarter, Holdings Channel.com reports. The firm purchased 76,960 shares of the company’s stock, valued at approximately $7,259,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. MGO One Seven LLC lifted its holdings in shares of Veralto by 3.2% in the 3rd quarter. MGO One Seven LLC now owns 3,477 shares of the company’s stock worth $328,000 after acquiring an additional 107 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Veralto by 5.0% in the second quarter. Valeo Financial Advisors LLC now owns 2,751 shares of the company’s stock worth $244,000 after purchasing an additional 131 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Veralto by 1.2% in the third quarter. Quadrant Capital Group LLC now owns 12,100 shares of the company’s stock worth $1,198,000 after purchasing an additional 141 shares during the last quarter. Nolet Wealth Management LLC boosted its position in Veralto by 1.0% during the second quarter. Nolet Wealth Management LLC now owns 15,277 shares of the company’s stock valued at $1,355,000 after buying an additional 146 shares during the period. Finally, North Dakota State Investment Board boosted its position in Veralto by 2.0% during the third quarter. North Dakota State Investment Board now owns 7,517 shares of the company’s stock valued at $709,000 after buying an additional 150 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 7,098 shares of Veralto stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $105.00, for a total value of $745,290.00. Following the sale, the chief executive officer owned 120,060 shares in the company, valued at $12,606,300. The trade was a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Bernard M. Skeete sold 1,514 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $112.58, for a total transaction of $170,446.12. Following the transaction, the chief accounting officer directly owned 4,760 shares in the company, valued at approximately $535,880.80. The trade was a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 46,025 shares of company stock valued at $4,977,963 over the last quarter. 0.43% of the stock is owned by company insiders.

Veralto Stock Up 0.6%

Shares of NYSE:VLTO opened at $117.07 on Thursday. Veralto Corporation has a 1 year low of $80.03 and a 1 year high of $118.41. The company has a market cap of $28.46 billion, a PE ratio of 28.98, a P/E/G ratio of 3.22 and a beta of 0.51. 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 stock’s 50-day moving average is $99.27 and its 200 day moving average is $93.34.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a return on equity of 35.08% and a net margin of 17.27%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Sell-side analysts anticipate that Veralto Corporation will post 4.51 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Veralto’s dividend payout ratio (DPR) is presently 12.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VLTO shares. Weiss Ratings upgraded Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. UBS Group boosted their target price on Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Barclays increased their target price on Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a report on Monday. Stifel Nicolaus raised their price target on Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen cut Veralto from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.70.

Veralto Profile

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.