Sumitomo Mitsui DS Asset Management Company Ltd Buys 42,973 Shares of Veralto Corporation $VLTO

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Veralto Corporation (NYSE:VLTO) by 52.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,659 shares of the company’s stock after purchasing an additional 42,973 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.05% of Veralto worth $13,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in Veralto during the second quarter worth $26,000. Loomis Sayles & Co. L P bought a new stake in shares of Veralto in the 2nd quarter worth about $28,000. True Wealth Design LLC boosted its stake in shares of Veralto by 852.9% during the 3rd quarter. True Wealth Design LLC now owns 324 shares of the company’s stock worth $35,000 after purchasing an additional 290 shares during the period. Headlands Technologies LLC bought a new position in Veralto during the 2nd quarter valued at about $44,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Veralto in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 1.0%

Shares of NYSE VLTO opened at $102.74 on Friday. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $110.11. The firm has a market cap of $25.51 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88. The business has a fifty day simple moving average of $100.06 and a two-hundred day simple moving average of $103.11. The company has a quick ratio of 1.40, a current ratio of 1.57 and a debt-to-equity ratio of 0.69.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. Veralto had a return on equity of 38.69% and a net margin of 16.75%.The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. Veralto has set its FY 2025 guidance at 3.820-3.850 EPS and its Q4 2025 guidance at 0.950-0.980 EPS. Analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.11. Veralto’s dividend payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings lowered Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 31st. Barclays raised their price target on Veralto from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. UBS Group upped their price objective on Veralto from $110.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. BMO Capital Markets decreased their target price on Veralto from $123.00 to $114.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $105.00 target price (down from $125.00) on shares of Veralto in a research note on Wednesday, December 10th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $112.89.

Insider Activity

In other news, SVP Mattias Bystrom sold 1,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $101.73, for a total transaction of $101,730.00. Following the transaction, the senior vice president directly owned 31,430 shares in the company, valued at approximately $3,197,373.90. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.