Retirement Systems of Alabama Has $6.11 Million Stake in Veralto Co. (NYSE:VLTO)

Retirement Systems of Alabama boosted its stake in shares of Veralto Co. (NYSE:VLTO) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,633 shares of the company’s stock after acquiring an additional 6,170 shares during the quarter. Retirement Systems of Alabama’s holdings in Veralto were worth $6,111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. grew its holdings in shares of Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Veralto by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after buying an additional 100 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Veralto by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after buying an additional 100 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after acquiring an additional 102 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after acquiring an additional 103 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada raised their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Stifel Nicolaus reduced their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.50.

Veralto Stock Down 2.2 %

Shares of NYSE:VLTO opened at $101.23 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 4.30 and a beta of 0.91. The company has a 50 day moving average of $106.48 and a 200-day moving average of $105.38. Veralto Co. has a one year low of $73.91 and a one year high of $115.00.

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

Veralto Announces Dividend

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

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,695 shares of company stock valued at $1,615,017. 0.31% of the stock is currently owned by company 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.