J. Safra Sarasin Holding AG Buys 15,651 Shares of Veralto Corporation $VLTO

Key Points

• J. Safra Sarasin Holding AG increased its stake in Veralto Corporation by 44.3% during Q2, acquiring an additional 15,651 shares and bringing its total to 50,948 shares valued at approximately $5.14 million.
• Veralto's quarterly earnings surpassed expectations, reporting $0.93 EPS against a consensus estimate of $0.89, with a revenue of $1.37 billion, reflecting a year-over-year growth of 6.4%.
• The company announced a quarterly dividend of $0.11 per share, set to be paid on October 31, 2023, with a dividend yield of 0.4% and a payout ratio of 12.29%.

J. Safra Sarasin Holding AG raised its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 44.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,948 shares of the company's stock after purchasing an additional 15,651 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Veralto were worth $5,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VLTO. Vanguard Group Inc. increased its position in Veralto by 1.3% in the first quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company's stock worth $2,897,916,000 after purchasing an additional 390,285 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Veralto by 8.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company's stock worth $1,027,264,000 after purchasing an additional 811,843 shares during the period. Alliancebernstein L.P. raised its stake in Veralto by 28.0% during the 1st quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company's stock worth $607,656,000 after buying an additional 1,363,502 shares during the period. Invesco Ltd. lifted its holdings in shares of Veralto by 6.9% during the 1st quarter. Invesco Ltd. now owns 4,856,071 shares of the company's stock valued at $473,224,000 after purchasing an additional 314,704 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Veralto by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock valued at $415,074,000 after buying an additional 509,104 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Trading Up 0.5%

Shares of Veralto stock opened at $106.52 on Friday. The firm's 50-day moving average price is $106.58 and its two-hundred day moving average price is $100.68. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 3.52 and a beta of 0.90. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00.

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

Veralto Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 30th. Veralto's dividend payout ratio is currently 12.29%.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at $11,286,830.94. This represents a 9.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Raymond James Financial began coverage on Veralto in a research note on Tuesday, August 26th. They issued a "market perform" rating on the stock. Barclays initiated coverage on shares of Veralto in a research report on Friday, September 19th. They issued an "overweight" rating and a $120.00 price objective on the stock. Finally, Robert W. Baird upped their target price on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $113.57.

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.

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