Shell Asset Management Co. Boosts Stock Position in Veralto Corporation $VLTO

Key Points

• Shell Asset Management Co. increased its stake in Veralto Corporation by 114.3% during Q2, bringing its total holdings to 16,686 shares, valued at approximately $1.68 million.
• Veralto reported a quarterly EPS of $0.93, surpassing analysts' expectations of $0.89, with revenues totaling $1.37 billion for the quarter.
• The company announced a quarterly dividend of $0.11 per share, payable on October 31st, which reflects an annualized yield of 0.4%.

Shell Asset Management Co. raised its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 114.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,686 shares of the company's stock after purchasing an additional 8,901 shares during the quarter. Shell Asset Management Co.'s holdings in Veralto were worth $1,684,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC grew its stake in Veralto by 148.5% during the 1st 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. Opal Wealth Advisors LLC purchased a new position in Veralto during the first quarter valued at approximately $45,000. Ameritas Advisory Services LLC purchased a new position in Veralto during the second quarter valued at approximately $51,000. Grove Bank & Trust raised its position in Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after acquiring an additional 339 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Veralto during the first quarter valued at approximately $64,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 106,219 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.36% of the company's stock.

Veralto Stock Performance

Shares of VLTO stock opened at $104.10 on Thursday. The company has a market capitalization of $25.83 billion, a P/E ratio of 29.08, a P/E/G ratio of 3.48 and a beta of 0.90. The business's 50 day moving average is $106.68 and its two-hundred day moving average is $100.88. The company has a current ratio of 2.32, a quick ratio of 2.06 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 issued its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. The company 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%.Veralto's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business 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. Analysts expect that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VLTO. Robert W. Baird lifted their price target on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Barclays reduced their price target on Veralto from $120.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday. Weiss Ratings upgraded Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Royal Bank Of Canada lifted their price target on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial began coverage on Veralto in a research report on Tuesday, August 26th. They set a "market perform" rating on the stock. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Veralto presently has a consensus rating of "Moderate Buy" and an average target price 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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