Fifth Third Bancorp Has $5.50 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

Fifth Third Bancorp decreased its stake in shares of Veralto Co. (NYSE:VLTO) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,997 shares of the company’s stock after selling 5,952 shares during the quarter. Fifth Third Bancorp’s holdings in Veralto were worth $5,500,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. AE Wealth Management LLC bought a new position in Veralto during the second quarter worth about $202,000. Public Sector Pension Investment Board raised its position in shares of Veralto by 61.4% in the second quarter. Public Sector Pension Investment Board now owns 4,934 shares of the company’s stock valued at $471,000 after buying an additional 1,877 shares in the last quarter. AQR Capital Management LLC raised its holdings in Veralto by 53.8% in the 2nd quarter. AQR Capital Management LLC now owns 112,233 shares of the company’s stock valued at $10,715,000 after acquiring an additional 39,256 shares in the last quarter. APG Asset Management N.V. lifted its position in Veralto by 4.7% during the second quarter. APG Asset Management N.V. now owns 160,133 shares of the company’s stock worth $14,264,000 after purchasing an additional 7,129 shares during the period. Finally, MBB Public Markets I LLC bought a new stake in shares of Veralto during the 2nd quarter worth approximately $1,620,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insiders Place Their Bets

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 transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This represents a 6.74 % 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. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on VLTO. BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Citigroup reduced their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their price target on Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veralto currently has an average rating of “Hold” and a consensus price target of $113.18.

Veralto Stock Down 1.4 %

VLTO stock opened at $101.79 on Monday. The firm has a market capitalization of $25.17 billion, a PE ratio of 31.42, a P/E/G ratio of 4.31 and a beta of 1.06. The stock’s 50 day moving average is $103.97 and its 200-day moving average is $106.09. Veralto Co. has a twelve month low of $75.05 and a twelve month high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS 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 during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s payout ratio is presently 13.58%.

Veralto 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.