Parsons Capital Management Inc. RI Decreases Position in Veralto Corporation $VLTO

Key Points

• Parsons Capital Management Inc. RI reduced its stake in Veralto Corporation by 57.3% during the second quarter, owning 5,558 shares valued at $561,000.
• Veralto has received positive ratings from several research analysts, with an average consensus price target of $113.57 and five analysts rating the stock a "Buy."
• The company announced a quarterly dividend of $0.11 per share, expected to be paid on October 31st, representing an annualized yield of 0.4%.

Parsons Capital Management Inc. RI trimmed its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 57.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,558 shares of the company's stock after selling 7,447 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Veralto were worth $561,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of VLTO. Nuveen LLC purchased a new position in Veralto in the 1st quarter worth approximately $172,399,000. Alliancebernstein L.P. lifted its stake in Veralto by 28.0% in the 1st quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company's stock worth $607,656,000 after purchasing an additional 1,363,502 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Veralto by 8.3% in the 1st 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in Veralto by 26.8% in the 1st quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company's stock worth $314,137,000 after purchasing an additional 682,123 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Veralto by 162.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,064,810 shares of the company's stock worth $107,493,000 after purchasing an additional 658,529 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price 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. Raymond James Financial started coverage on shares of Veralto in a research report on Tuesday, August 26th. They set a "market perform" rating on the stock. Robert W. Baird lifted their price target on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Barclays began coverage on shares of Veralto in a research report on Friday, September 19th. They set an "overweight" rating and a $120.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Veralto presently has an average rating of "Moderate Buy" and a consensus price target of $113.57.

Veralto Stock Up 0.5%

Veralto stock opened at $106.52 on Friday. Veralto Corporation has a fifty-two week low of $83.86 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. The firm has a 50 day moving average price of $106.58 and a 200 day moving average price of $100.68. The company has a market capitalization of $26.43 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 3.52 and a beta of 0.90.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, beating 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $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. Research analysts expect that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 30th. Veralto's dividend payout ratio (DPR) is 12.29%.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the completion of the transaction, the chief executive officer owned 106,219 shares in the company, valued at $11,286,830.94. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by company insiders.

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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