Allspring Global Investments Holdings LLC Raises Stake in Veralto Corporation $VLTO

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Veralto Corporation by 38.8% during Q2, now owning 37,254 shares worth approximately $3.82 million.
• Analysts have set an average target price of $113.43 for Veralto, with ratings ranging from "buy" to "hold" from various brokerages.
• Veralto announced a quarterly dividend of $0.11 per share, to be paid on October 31, reflecting a 0.4% yield annually.

Allspring Global Investments Holdings LLC grew its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 38.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,254 shares of the company's stock after purchasing an additional 10,421 shares during the period. Allspring Global Investments Holdings LLC's holdings in Veralto were worth $3,822,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC grew its stake in Veralto by 148.5% in the 1st quarter. Truvestments Capital LLC now owns 328 shares of the company's stock valued at $32,000 after acquiring an additional 196 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Veralto in the 2nd quarter valued at about $51,000. Cloud Capital Management LLC acquired a new stake in Veralto in the 1st quarter valued at about $64,000. Marshall & Sullivan Inc. WA acquired a new stake in Veralto in the 2nd quarter valued at about $74,000. Finally, IFP Advisors Inc grew its stake in Veralto by 70.8% in the 2nd quarter. IFP Advisors Inc now owns 750 shares of the company's stock valued at $76,000 after acquiring an additional 311 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on VLTO. Weiss Ratings raised shares of Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Raymond James Financial began coverage on shares of Veralto in a research note on Tuesday, August 26th. They set a "market perform" rating on the stock. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Barclays decreased their price target on shares of Veralto from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, October 6th. Finally, Royal Bank Of Canada raised their price target on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $113.43.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the sale, the chief executive officer owned 106,219 shares in the company, valued at $11,286,830.94. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.36% of the company's stock.

Veralto Trading Up 1.2%

Shares of VLTO stock opened at $104.00 on Tuesday. The firm has a market cap of $25.81 billion, a P/E ratio of 29.05, a PEG ratio of 3.39 and a beta of 0.90. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The firm's 50-day simple moving average is $106.00 and its 200-day simple moving average is $101.27.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. As a group, equities analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Veralto's dividend payout ratio is 12.29%.

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.

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