Charles Schwab Investment Management Inc. lifted its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,549,716 shares of the company's stock after acquiring an additional 141,209 shares during the period. Charles Schwab Investment Management Inc. owned 0.63% of Veralto worth $173,351,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in shares of Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company's stock worth $4,294,000 after purchasing an additional 34,505 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Veralto by 32.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company's stock valued at $23,256,000 after acquiring an additional 60,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Veralto by 126.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company's stock worth $6,460,000 after acquiring an additional 37,721 shares during the period. PGGM Investments acquired a new stake in shares of Veralto in the second quarter worth approximately $1,528,000. Finally, Mirova US LLC grew its holdings in Veralto by 2.2% in the second quarter. Mirova US LLC now owns 1,055,767 shares of the company's stock valued at $100,794,000 after purchasing an additional 22,324 shares during the period. Hedge funds and other institutional investors own 91.28% of the company's stock.
NYSE:VLTO opened at $106.41 on Friday. Veralto Co. has a one year low of $72.23 and a one year high of $115.00. The business's 50-day simple moving average is $108.11 and its 200 day simple moving average is $104.45. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The stock has a market cap of $26.32 billion and a price-to-earnings ratio of 32.84.
Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate 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 return on equity of 52.85% and a net margin of 15.69%. The business's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a $0.09 dividend. The ex-dividend date of this dividend 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 presently 11.11%.
A number of equities analysts have weighed in on VLTO shares. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Stifel Nicolaus lifted their price objective on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research note on Monday, September 30th. Finally, UBS Group assumed coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 target price on the stock. Seven investment 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, the company presently has an average rating of "Hold" and a consensus price target of $108.27.
Get Our Latest Stock Report on VLTO
In other news, SVP Surekha Trivedi sold 753 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares in the company, valued at approximately $1,324,089.80. This trade represents a 5.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at approximately $15,514,381.08. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,639 shares of company stock valued at $3,175,803. Insiders own 0.31% of the company's stock.
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.
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