Veralto Corporation $VLTO Stock: Candriam S.C.A. Reduces Holdings

Candriam S.C.A. lowered its stake in Veralto Corporation (NYSE:VLTO) by 27.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 200,554 shares of the company’s stock after selling 77,039 shares during the period. Candriam S.C.A.’s holdings in Veralto were worth $18,985,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Ethic Inc. raised its holdings in shares of Veralto by 59.6% during the third quarter. Ethic Inc. now owns 44,897 shares of the company’s stock worth $4,235,000 after acquiring an additional 16,770 shares during the period. Pictet Asset Management Holding SA lifted its position in Veralto by 8.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,285,938 shares of the company’s stock valued at $309,946,000 after acquiring an additional 255,749 shares in the last quarter. Parallel Advisors LLC lifted its position in Veralto by 6.1% in the 3rd quarter. Parallel Advisors LLC now owns 3,800 shares of the company’s stock valued at $358,000 after acquiring an additional 219 shares in the last quarter. Calamos Advisors LLC boosted its stake in Veralto by 2.0% in the 3rd quarter. Calamos Advisors LLC now owns 48,438 shares of the company’s stock worth $4,569,000 after purchasing an additional 970 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in Veralto by 36.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 15,475 shares of the company’s stock worth $1,460,000 after purchasing an additional 4,125 shares during the period. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of VLTO stock opened at $117.06 on Monday. Veralto Corporation has a 12 month low of $80.03 and a 12 month high of $119.03. The company’s fifty day simple moving average is $100.00 and its 200-day simple moving average is $93.49. The firm has a market cap of $28.46 billion, a PE ratio of 28.97, a P/E/G ratio of 3.25 and a beta of 0.51. The company has a quick ratio of 1.82, a current ratio of 2.03 and a debt-to-equity ratio of 0.83.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts expect that Veralto Corporation will post 4.51 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Veralto’s payout ratio is 12.87%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BNP Paribas Exane reiterated an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of Veralto in a report on Thursday, July 30th. Wolfe Research started coverage on Veralto in a report on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 price target on the stock. Citigroup upped their price objective on Veralto from $107.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. UBS Group upped their price objective on Veralto from $104.00 to $106.00 and gave the stock a “neutral” rating in a research report on Monday, October 5th. Finally, Stifel Nicolaus increased their price objective on Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.70.

Insider Buying and Selling at Veralto

In other news, CAO Bernard M. Skeete sold 1,514 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $112.58, for a total transaction of $170,446.12. Following the completion of the transaction, the chief accounting officer directly owned 4,760 shares in the company, valued at $535,880.80. This represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 7,098 shares of the firm’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $105.00, for a total value of $745,290.00. Following the completion of the transaction, the chief executive officer owned 120,060 shares of the company’s stock, valued at $12,606,300. The trade was a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 55,094 shares of company stock valued at $6,032,688. Corporate insiders own 0.43% of the company’s stock.

About Veralto

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging.

Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.