UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Veralto Co. (NYSE:VLTO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,610,965 shares of the company's stock after acquiring an additional 291,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.06% of Veralto worth $265,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VLTO. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto during the 4th quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in Veralto during the fourth quarter worth $26,000. BankPlus Trust Department acquired a new stake in Veralto during the fourth quarter valued at $29,000. Albion Financial Group UT increased its holdings in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after buying an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Veralto in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares of the company's stock, valued at $849,964.50. This trade represents a 6.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president now owns 13,571 shares in the company, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,073 shares of company stock valued at $6,442,018. Corporate insiders own 0.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VLTO shares. Robert W. Baird raised their target price on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Royal Bank of Canada increased their price target on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Citigroup cut their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Northcoast Research assumed coverage on Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Finally, Stifel Nicolaus increased their target price on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $110.09.

Veralto Price Performance

Shares of Veralto stock opened at $100.52 on Thursday. The stock has a market capitalization of $24.92 billion, a P/E ratio of 30.10, a PEG ratio of 4.24 and a beta of 0.99. The business has a 50 day simple moving average of $94.71 and a two-hundred day simple moving average of $99.67. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. As a group, analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio (DPR) is 12.57%.

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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