QRG Capital Management Inc. Buys 2,051 Shares of Veralto Co. (NYSE:VLTO)

QRG Capital Management Inc. increased its stake in shares of Veralto Co. (NYSE:VLTO) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,412 shares of the company’s stock after purchasing an additional 2,051 shares during the quarter. QRG Capital Management Inc.’s holdings in Veralto were worth $2,619,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Cetera Investment Advisers raised its stake in shares of Veralto by 247.8% in the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after acquiring an additional 34,505 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Veralto by 19.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock valued at $14,952,000 after purchasing an additional 27,891 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Veralto in the 1st quarter worth about $1,011,000. Canada Pension Plan Investment Board boosted its position in shares of Veralto by 32.9% during the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock valued at $23,256,000 after buying an additional 60,300 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Veralto by 2,006.4% during the 1st quarter. SG Americas Securities LLC now owns 186,730 shares of the company’s stock worth $16,555,000 after acquiring an additional 177,865 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of recent analyst reports. BMO Capital Markets increased their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Stifel Nicolaus upped their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $108.27.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is currently owned by insiders.

Veralto Trading Down 0.6 %

Shares of NYSE:VLTO opened at $102.99 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $25.47 billion and a PE ratio of 31.79. Veralto Co. has a 12-month low of $67.36 and a 12-month high of $115.00. The business’s fifty day simple moving average is $109.53 and its 200-day simple moving average is $103.61.

Veralto (NYSE:VLTO) last announced 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. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

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.