19,813 Veralto Corporation $VLTO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Veralto Corporation (NYSE:VLTO) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 545,848 shares of the company’s stock after selling 19,813 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Veralto worth $51,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Veralto in the 3rd quarter valued at about $7,259,000. Vise Technologies Inc. raised its stake in shares of Veralto by 79.4% during the 3rd quarter. Vise Technologies Inc. now owns 10,736 shares of the company’s stock worth $1,013,000 after acquiring an additional 4,753 shares in the last quarter. Grandfield & Dodd LLC raised its stake in shares of Veralto by 726.9% during the 3rd quarter. Grandfield & Dodd LLC now owns 20,392 shares of the company’s stock worth $1,923,000 after acquiring an additional 17,926 shares in the last quarter. Cidel Asset Management Inc. purchased a new stake in Veralto during the third quarter valued at approximately $1,772,000. Finally, MGO One Seven LLC lifted its position in Veralto by 3.2% during the third quarter. MGO One Seven LLC now owns 3,477 shares of the company’s stock valued at $328,000 after acquiring an additional 107 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Bernard M. Skeete sold 1,514 shares of Veralto stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $112.58, for a total transaction of $170,446.12. Following the completion of the sale, the chief accounting officer directly owned 4,760 shares in the company, valued at approximately $535,880.80. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 36,427 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $108.89, for a total transaction of $3,966,536.03. Following the sale, the senior vice president directly owned 8,565 shares in the company, valued at $932,642.85. This trade represents a 80.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 46,025 shares of company stock valued at $4,977,963. Insiders own 0.43% of the company’s stock.

Veralto Stock Performance

VLTO opened at $117.07 on Thursday. The company has a market cap of $28.46 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 3.22 and a beta of 0.51. The company has a quick ratio of 1.61, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $99.27 and its 200-day moving average price is $93.34. Veralto Corporation has a 52-week low of $80.03 and a 52-week high of $118.41.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, October 29th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. Veralto’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business earned $0.99 EPS. As a group, equities analysts anticipate that Veralto Corporation will post 4.51 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s dividend payout ratio (DPR) is currently 12.87%.

Analysts Set New Price Targets

VLTO has been the subject of several recent analyst reports. BNP Paribas Exane restated an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Veralto in a research note on Thursday, July 30th. Wolfe Research assumed coverage on Veralto in a research report on Tuesday, September 15th. They set an “outperform” rating and a $125.00 price target on the stock. Royal Bank Of Canada increased their price objective on Veralto from $109.00 to $121.00 and gave the company a “sector perform” rating in a report on Monday. Robert W. Baird set a $111.00 price objective on Veralto in a research report on Thursday, July 30th. Finally, Weiss Ratings raised Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Veralto presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.70.

Veralto Company Profile

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.