Point72 Asset Management L.P. decreased its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 64.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,314 shares of the company's stock after selling 165,552 shares during the quarter. Point72 Asset Management L.P.'s holdings in Veralto were worth $10,326,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in VLTO. Principal Financial Group Inc. boosted its holdings in shares of Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company's stock worth $125,608,000 after purchasing an additional 757,389 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Veralto by 29.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company's stock worth $208,511,000 after purchasing an additional 418,588 shares during the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Veralto during the second quarter worth $39,343,000. Bank of Montreal Can boosted its holdings in shares of Veralto by 106.0% during the third quarter. Bank of Montreal Can now owns 455,474 shares of the company's stock worth $50,239,000 after purchasing an additional 234,323 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Veralto during the second quarter worth $20,913,000. Institutional investors and hedge funds own 91.28% of the company's stock.
Shares of VLTO opened at $106.53 on Friday. The stock's 50-day moving average is $107.58 and its two-hundred day moving average is $105.13. The stock has a market cap of $26.35 billion, a PE ratio of 32.88, a P/E/G ratio of 4.44 and a beta of 0.91. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.
Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion for 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 firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Equities analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's payout ratio is 11.11%.
In related news, SVP Surekha Trivedi sold 753 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares of the company's stock, valued at $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,695 shares of company stock valued at $1,615,017. 0.31% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a report on Monday, September 30th. Stifel Nicolaus lifted their target price on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $108.27.
Get Our Latest Research Report on VLTO
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 instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Veralto, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veralto wasn't on the list.
While Veralto currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.