Citizens Financial Group Inc. RI Purchases 534 Shares of Veralto Co. (NYSE:VLTO)

Citizens Financial Group Inc. RI boosted its position in Veralto Co. (NYSE:VLTO) by 21.5% during the 3rd quarter, Holdings Channel reports. The fund owned 3,015 shares of the company’s stock after buying an additional 534 shares during the period. Citizens Financial Group Inc. RI’s holdings in Veralto were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VLTO. Bank of New York Mellon Corp raised its holdings in Veralto by 5.0% during the second 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 holdings in shares of Veralto by 4.9% in the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after acquiring an additional 132,105 shares during the last quarter. Clearbridge Investments LLC lifted its position in Veralto by 1.7% in the 2nd quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after acquiring an additional 24,246 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares during the last quarter. Finally, abrdn plc increased its holdings in Veralto by 4.2% during the 3rd quarter. abrdn plc now owns 1,090,949 shares of the company’s stock worth $121,052,000 after purchasing an additional 43,945 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Trading Up 0.4 %

Shares of VLTO opened at $106.41 on Friday. Veralto Co. has a fifty-two week low of $72.23 and a fifty-two week high of $115.00. The business has a 50-day moving average of $108.11 and a 200 day moving average of $104.45. The firm has a market cap of $26.32 billion and a P/E ratio of 32.84. 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 issued 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. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. As a group, research analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given 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 0.34%. Veralto’s dividend payout ratio is currently 11.11%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,639 shares of company stock worth $3,175,803 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on VLTO. BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. UBS Group initiated coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their target price on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen lifted their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.