Impax Asset Management Group plc Decreases Stock Position in Veralto Co. (NYSE:VLTO)

Impax Asset Management Group plc trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,049,172 shares of the company’s stock after selling 349,748 shares during the period. Veralto makes up 1.8% of Impax Asset Management Group plc’s portfolio, making the stock its 13th biggest position. Impax Asset Management Group plc owned 1.64% of Veralto worth $452,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC acquired a new stake in shares of Veralto during the second quarter worth approximately $26,000. LRI Investments LLC bought a new position in Veralto during the 1st quarter valued at $30,000. Fairscale Capital LLC acquired a new position in Veralto during the 2nd quarter worth $30,000. Hazlett Burt & Watson Inc. increased its position in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the transaction, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,286 shares of company stock valued at $3,912,305. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on VLTO shares. The Goldman Sachs Group lifted their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. 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 objective for the company. Robert W. Baird lifted their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, TD Cowen raised their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Veralto has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Stock Performance

Shares of VLTO traded up $0.59 during mid-day trading on Monday, reaching $102.18. 184,237 shares of the company’s stock traded hands, compared to its average volume of 1,542,032. Veralto Co. has a 12 month low of $67.36 and a 12 month high of $115.00. The stock has a market capitalization of $25.27 billion and a P/E ratio of 31.35. The business’s 50-day moving average price is $110.01 and its 200-day moving average price is $103.41. 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 (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

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

About Veralto

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.