Mitsubishi UFJ Trust & Banking Corp Sells 10,403 Shares of Veralto Corporation $VLTO

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Veralto Corporation (NYSE:VLTO) by 8.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 116,243 shares of the company’s stock after selling 10,403 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Veralto were worth $12,393,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Capital Advisors Inc. OK grew its position in Veralto by 6.3% during the 3rd quarter. Capital Advisors Inc. OK now owns 380,910 shares of the company’s stock worth $40,609,000 after acquiring an additional 22,464 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Veralto by 1,579.5% during the third quarter. Spire Wealth Management now owns 12,311 shares of the company’s stock valued at $1,312,000 after purchasing an additional 11,578 shares during the period. Defender Capital LLC. grew its holdings in shares of Veralto by 9.2% in the second quarter. Defender Capital LLC. now owns 172,870 shares of the company’s stock worth $17,451,000 after purchasing an additional 14,586 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Veralto by 8.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,159,417 shares of the company’s stock worth $123,605,000 after buying an additional 94,607 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in Veralto during the 3rd quarter valued at $1,919,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 1,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.73, for a total transaction of $101,730.00. Following the sale, the senior vice president owned 31,430 shares of the company’s stock, valued at $3,197,373.90. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price objective (down previously from $125.00) on shares of Veralto in a research report on Wednesday, December 10th. Barclays boosted their price target on Veralto from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Citigroup dropped their price objective on Veralto from $112.00 to $111.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Royal Bank Of Canada lifted their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings downgraded Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 31st. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.89.

Veralto Stock Down 1.2%

VLTO stock opened at $100.63 on Wednesday. Veralto Corporation has a fifty-two week low of $83.86 and a fifty-two week high of $110.11. The company has a market capitalization of $24.99 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 2.90 and a beta of 0.88. The business’s 50 day moving average price is $100.86 and its two-hundred day moving average price is $103.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.40 and a current ratio of 1.57.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. Veralto had a return on equity of 38.69% and a net margin of 16.75%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. As a group, analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.13 per share. This is an increase from Veralto’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 31st. Veralto’s payout ratio is 14.25%.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.