Resona Asset Management Co. Ltd. Sells 5,195 Shares of Veralto Corporation $VLTO

Resona Asset Management Co. Ltd. cut its holdings in Veralto Corporation (NYSE:VLTO) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,696 shares of the company’s stock after selling 5,195 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Veralto were worth $8,902,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Capital Advisors Inc. OK grew its stake in Veralto by 6.3% in the third quarter. Capital Advisors Inc. OK now owns 380,910 shares of the company’s stock valued at $40,609,000 after purchasing an additional 22,464 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Veralto by 1,579.5% in the 3rd quarter. Spire Wealth Management now owns 12,311 shares of the company’s stock valued at $1,312,000 after buying an additional 11,578 shares during the last quarter. Defender Capital LLC. grew its stake in shares of Veralto by 9.2% in the second quarter. Defender Capital LLC. now owns 172,870 shares of the company’s stock valued at $17,451,000 after buying an additional 14,586 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Veralto during the third quarter worth $1,919,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Veralto by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,159,417 shares of the company’s stock worth $123,605,000 after acquiring an additional 94,607 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, SVP Mattias Bystrom sold 1,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $101.73, for a total transaction of $101,730.00. Following the transaction, the senior vice president owned 31,430 shares in the company, valued at $3,197,373.90. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating and set a $105.00 price objective (down from $125.00) on shares of Veralto in a research note on Wednesday, December 10th. Citigroup cut their target price on shares of Veralto from $112.00 to $111.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. UBS Group boosted their price target on Veralto from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings lowered Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 31st. Finally, Barclays raised their price objective on Veralto from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $112.89.

Veralto Stock Up 0.5%

Veralto stock opened at $101.83 on Tuesday. The company’s 50-day moving average price is $100.80 and its two-hundred day moving average price is $103.09. The company has a quick ratio of 1.40, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The stock has a market cap of $25.28 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.88 and a beta of 0.88. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $110.11.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Veralto had a return on equity of 38.69% and a net margin of 16.75%.The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.13 dividend. This is a boost from Veralto’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, December 31st. This represents a $0.52 annualized dividend and a yield of 0.5%. Veralto’s dividend payout ratio is presently 14.25%.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.