Allspring Global Investments Holdings LLC Boosts Position in Veralto Co. (NYSE:VLTO)

Allspring Global Investments Holdings LLC grew its holdings in Veralto Co. (NYSE:VLTO) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,858 shares of the company’s stock after purchasing an additional 1,103 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Veralto were worth $1,326,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares during the last quarter. Capital International Investors increased its holdings in shares of Veralto by 8.5% in the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after purchasing an additional 553,021 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after buying an additional 200,657 shares during the period. Swedbank AB lifted its position in shares of Veralto by 4.9% during the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after acquiring an additional 132,105 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in Veralto by 1.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after acquiring an additional 24,246 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen lifted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Finally, Robert W. Baird upped their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Veralto presently has an average rating of “Hold” and an average price target of $108.27.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,286 shares of company stock valued at $3,912,305. Corporate insiders own 0.31% of the company’s stock.

Veralto Price Performance

VLTO opened at $103.24 on Thursday. 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 $25.48 billion and a price-to-earnings ratio of 31.86. Veralto Co. has a 1 year low of $66.69 and a 1 year high of $115.00. The firm’s fifty day moving average price is $110.39 and its two-hundred day moving average price is $103.16.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating 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 net margin of 15.69% and a return on equity of 52.85%. Veralto’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. As a group, analysts anticipate that Veralto Co. will post 3.47 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. Veralto’s dividend payout ratio is presently 11.11%.

About Veralto

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.