Tokio Marine Asset Management Co. Ltd. Increases Holdings in Veralto Co. (NYSE:VLTO)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Veralto Co. (NYSE:VLTO) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,338 shares of the company’s stock after acquiring an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Veralto were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of VLTO. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Veralto by 2.0% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 420,482 shares of the company’s stock worth $47,035,000 after buying an additional 8,379 shares in the last quarter. Metis Global Partners LLC increased its stake in Veralto by 6.7% during the third quarter. Metis Global Partners LLC now owns 19,407 shares of the company’s stock worth $2,171,000 after acquiring an additional 1,222 shares during the last quarter. Curi RMB Capital LLC raised its holdings in Veralto by 3.1% in the third quarter. Curi RMB Capital LLC now owns 7,680 shares of the company’s stock valued at $859,000 after buying an additional 229 shares during the period. KBC Group NV raised its stake in shares of Veralto by 22.0% in the 3rd quarter. KBC Group NV now owns 733,822 shares of the company’s stock valued at $82,086,000 after acquiring an additional 132,382 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in Veralto by 94.2% in the third quarter. Oppenheimer & Co. Inc. now owns 5,419 shares of the company’s stock valued at $606,000 after purchasing an additional 2,628 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on VLTO shares. The Goldman Sachs Group boosted their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada increased their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. UBS Group initiated coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Stifel Nicolaus upped their price objective on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets upped their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Seven 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, the company currently has a consensus rating of “Hold” and an average target price of $108.27.

Veralto Trading Down 0.4 %

Shares of NYSE:VLTO opened at $102.68 on Friday. The company has a 50 day moving average price of $108.69 and a 200 day moving average price of $104.00. The stock has a market capitalization of $25.39 billion and a price-to-earnings ratio of 31.69. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a 1-year low of $70.06 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. On average, research analysts anticipate that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. Veralto’s dividend payout ratio is 11.11%.

Insider Activity

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the transaction, the senior vice president now directly owns 11,918 shares in the company, valued at approximately $1,324,089.80. This represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,038 shares of company stock worth $3,989,693 in the last three months. 0.31% of the stock is owned by 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.