Intech Investment Management LLC Buys 44,294 Shares of Veralto Co. (NYSE:VLTO)

Intech Investment Management LLC raised its stake in shares of Veralto Co. (NYSE:VLTO) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 263,348 shares of the company’s stock after purchasing an additional 44,294 shares during the period. Intech Investment Management LLC owned 0.11% of Veralto worth $29,458,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Veralto during the 3rd quarter worth $25,000. Goodman Advisory Group LLC bought a new position in shares of Veralto in the 2nd quarter worth about $26,000. Fairscale Capital LLC bought a new position in shares of Veralto in the 2nd quarter worth about $30,000. Raleigh Capital Management Inc. raised its position in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Veralto in the 1st quarter worth about $30,000. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

Shares of NYSE VLTO opened at $105.11 on Thursday. Veralto Co. has a twelve month low of $70.47 and a twelve month high of $115.00. The stock’s 50 day moving average price is $108.32 and its 200-day moving average price is $104.32. The company has a market capitalization of $25.99 billion and a PE ratio of 32.44. 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 (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. Veralto’s payout ratio is presently 11.11%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. UBS Group initiated coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada raised their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $108.27.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,639 shares of company stock worth $3,175,803 in the last 90 days. Insiders own 0.31% of the company’s stock.

Veralto 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.