Empowered Funds LLC Grows Stake in Veralto Co. (NYSE:VLTO)

Empowered Funds LLC increased its holdings in Veralto Co. (NYSE:VLTO) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,478 shares of the company’s stock after acquiring an additional 172 shares during the quarter. Empowered Funds LLC’s holdings in Veralto were worth $389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Swedbank AB purchased a new stake in shares of Veralto during the 1st quarter worth $237,864,000. Principal Financial Group Inc. raised its holdings in Veralto by 207.2% in 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 in the last quarter. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Veralto during the second quarter valued at about $39,343,000. Point72 Asset Management L.P. purchased a new position in shares of Veralto in the 2nd quarter worth approximately $24,618,000. Finally, Intech Investment Management LLC purchased a new position in shares of Veralto in the 2nd quarter worth approximately $20,913,000. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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 report on Tuesday, July 30th. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft increased their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $108.27.

Veralto Stock Performance

VLTO opened at $108.48 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 12-month low of $72.85 and a 12-month high of $115.00. The firm has a 50 day moving average of $108.08 and a two-hundred day moving average of $104.59. The firm has a market capitalization of $26.83 billion and a PE ratio of 33.48.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated 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 owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,639 shares of company stock worth $3,175,803 over the last quarter. 0.31% of the stock is currently owned by insiders.

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.