UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 291,472 Shares of Veralto Co. (NYSE:VLTO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,610,965 shares of the company's stock after purchasing 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 reporting period.

A number of other large investors have also modified their holdings of VLTO. Vanguard Group Inc. lifted its stake in Veralto by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock worth $2,989,011,000 after purchasing an additional 146,234 shares during the period. Amundi raised its holdings in shares of Veralto by 2.3% in the 4th quarter. Amundi now owns 7,169,702 shares of the company's stock worth $731,084,000 after buying an additional 158,342 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Veralto by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock worth $670,781,000 after buying an additional 733,056 shares during the period. Pictet Asset Management Holding SA boosted its stake in Veralto by 1.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock valued at $485,304,000 after buying an additional 54,795 shares in the last quarter. Finally, Invesco Ltd. grew its position in Veralto by 9.7% in the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock valued at $462,538,000 after acquiring an additional 401,228 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the transaction, the chief executive officer now owns 116,637 shares of the company's stock, valued at $11,495,742.72. The trade was a 8.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the sale, the senior vice president now directly owns 17,434 shares in the company, valued at $1,633,042.78. The trade was a 64.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,069 shares of company stock valued at $5,337,767. 0.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Veralto Trading Up 0.7%

NYSE:VLTO traded up $0.67 during trading hours on Tuesday, hitting $101.13. 263,445 shares of the stock were exchanged, compared to its average volume of 1,472,805. The company has a market capitalization of $25.07 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company's 50 day moving average is $94.82 and its two-hundred day moving average is $99.55. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. The company 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 quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. On average, sell-side analysts anticipate that Veralto Co. will post 3.66 earnings per share 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 paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's dividend payout ratio (DPR) is presently 12.57%.

About Veralto

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.