Veralto Co. (NYSE:VLTO) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in shares of Veralto Co. (NYSE:VLTO) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,475 shares of the company’s stock after purchasing an additional 560 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Veralto were worth $1,507,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VLTO. Oregon Public Employees Retirement Fund grew its holdings in Veralto by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after acquiring an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after purchasing an additional 100 shares in the last quarter. Strategic Blueprint LLC grew its stake in shares of Veralto by 4.5% in the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after purchasing an additional 102 shares during the last quarter. Graypoint LLC raised its holdings in shares of Veralto by 2.4% in the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its stake in Veralto by 1.8% during the third quarter. Sentry Investment Management LLC now owns 5,999 shares of the company’s stock valued at $671,000 after purchasing an additional 108 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada boosted their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Seven 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 stock has an average rating of “Hold” and an average target price of $108.27.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction on 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 owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,448 shares of company stock valued at $1,698,675 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of VLTO opened at $108.19 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company has a market capitalization of $26.76 billion and a price-to-earnings ratio of 33.39. The business’s 50-day moving average is $108.00 and its 200-day moving average is $104.86. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s payout ratio is currently 11.11%.

Veralto Company 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.