Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in Veralto Corporation $VLTO

Key Points

• Sumitomo Mitsui DS Asset Management increased its shareholding in Veralto Corporation (NYSE: VLTO) by 4.2% during the second quarter, now owning 81,686 shares valued at approximately $8.25 million.
• Significant institutional interest is noted, with 91.28% of the company's stock held by hedge funds and institutional investors, indicating robust market confidence.
• Veralto has received a consensus rating of "Moderate Buy" from analysts, with an average target price of $113.43 and reports of positive earnings performance exceeding analyst estimates.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,686 shares of the company's stock after acquiring an additional 3,287 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Veralto were worth $8,246,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Veralto during the 4th quarter valued at $30,000. Truvestments Capital LLC raised its position 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 in the last quarter. Opal Wealth Advisors LLC bought a new stake in Veralto during the 1st quarter valued at $45,000. Grove Bank & Trust raised its position in Veralto by 198.2% during the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after purchasing an additional 339 shares in the last quarter. Finally, Global Financial Private Client LLC raised its position in Veralto by 95.1% during the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock valued at $58,000 after purchasing an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of research analyst reports. Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 target price on Veralto and gave the company a "buy" rating in a research report on Wednesday, July 30th. 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. Raymond James Financial initiated coverage on Veralto in a research report on Tuesday, August 26th. They set a "market perform" rating for the company. Finally, Robert W. Baird lifted 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, Veralto has a consensus rating of "Moderate Buy" and an average price target of $113.43.

Insider Buying and Selling at Veralto

In other 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.36% of the company's stock.

Veralto Stock Up 0.4%

Shares of VLTO stock opened at $107.18 on Friday. The stock's 50-day simple moving average is $105.87 and its 200-day simple moving average is $100.15. 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 market capitalization of $26.60 billion, a PE ratio of 29.94, a P/E/G ratio of 3.54 and a beta of 0.91. Veralto Corporation has a fifty-two week low of $83.86 and a fifty-two week high of $115.00.

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, beating analysts' consensus estimates 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 return on equity of 41.45% and a net margin of 16.65%.The company's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $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. Equities analysts expect that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

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

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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