B. Metzler seel. Sohn & Co. Holding AG Invests $7.09 Million in Veralto Co. (NYSE:VLTO)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Veralto Co. (NYSE:VLTO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 63,379 shares of the company’s stock, valued at approximately $7,090,000.

Several other large investors also recently added to or reduced their stakes in VLTO. Capital International Investors grew its holdings in shares of Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after purchasing an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after buying an additional 200,657 shares during the last quarter. Swedbank AB raised its position in shares of Veralto by 4.9% during the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after buying an additional 132,105 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Veralto by 1.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock worth $142,510,000 after acquiring an additional 24,246 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after acquiring an additional 757,389 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $103.98 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a twelve month low of $70.47 and a twelve month high of $115.00. The stock has a market cap of $25.72 billion and a P/E ratio of 32.09. The firm’s fifty day simple moving average is $108.44 and its 200 day simple moving average is $104.26.

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

Veralto Announces Dividend

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

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value 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 approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,639 shares of company stock valued at $3,175,803 in the last quarter. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Robert W. Baird increased their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. TD Cowen boosted their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Stifel Nicolaus increased their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets boosted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $108.27.

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.