Nordea Investment Management AB Sells 42,148 Shares of Veralto Corporation $VLTO

Key Points

• Nordea Investment Management AB reduced its stake in Veralto Corporation by 1.0% during the second quarter, selling 42,148 shares, while still holding approximately 4.28 million shares valued at $430.55 million.
• CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock at an average price of $106.26, resulting in a 9.11% decrease in her ownership.
• Veralto Corporation recently announced a quarterly dividend of $0.11 per share, with an annualized dividend yield of 0.4%, set to be paid on October 31st.

Nordea Investment Management AB lowered its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,284,088 shares of the company's stock after selling 42,148 shares during the quarter. Nordea Investment Management AB owned 1.73% of Veralto worth $430,551,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in Veralto in the second quarter valued at approximately $26,000. Truvestments Capital LLC lifted its position in Veralto by 148.5% in the first quarter. Truvestments Capital LLC now owns 328 shares of the company's stock valued at $32,000 after purchasing an additional 196 shares during the last quarter. Grove Bank & Trust lifted its position in Veralto by 198.2% in the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after purchasing an additional 339 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Veralto during the second quarter valued at approximately $51,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Veralto during the first quarter valued at approximately $64,000. Institutional investors own 91.28% of the company's stock.

Insider Activity

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $106.26, for a total value of $1,131,243.96. Following the transaction, the chief executive officer owned 106,219 shares of the company's stock, valued at approximately $11,286,830.94. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is currently owned by insiders.

Veralto Trading Down 0.1%

Shares of NYSE:VLTO opened at $101.78 on Friday. The company has a market cap of $25.26 billion, a P/E ratio of 28.43, a PEG ratio of 3.36 and a beta of 0.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00. The stock's fifty day moving average price is $106.16 and its 200-day moving average price is $101.06.

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

Veralto Announces Dividend

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

Wall Street Analyst Weigh In

VLTO has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Weiss Ratings raised Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Robert W. Baird increased their target price on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial started coverage on Veralto in a research note on Tuesday, August 26th. They issued a "market perform" rating on the stock. Finally, Stifel Nicolaus set a $120.00 target price on Veralto and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Veralto has an average rating of "Moderate Buy" and a consensus price target of $113.43.

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.

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