Principal Financial Group Inc. Has $118.99 Million Holdings in Veralto Corporation $VLTO

Principal Financial Group Inc. boosted its stake in shares of Veralto Corporation (NYSE:VLTO) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,116,072 shares of the company’s stock after acquiring an additional 18,380 shares during the period. Principal Financial Group Inc.’s holdings in Veralto were worth $118,989,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in VLTO. Gitterman Wealth Management LLC lifted its stake in shares of Veralto by 68.7% in the 3rd quarter. Gitterman Wealth Management LLC now owns 10,096 shares of the company’s stock valued at $1,076,000 after purchasing an additional 4,110 shares during the last quarter. Transcend Capital Advisors LLC increased its position in Veralto by 17.0% during the third quarter. Transcend Capital Advisors LLC now owns 7,106 shares of the company’s stock worth $758,000 after acquiring an additional 1,035 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Veralto by 182.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 49,680 shares of the company’s stock valued at $5,297,000 after purchasing an additional 32,106 shares during the period. National Pension Service lifted its position in Veralto by 3.8% in the third quarter. National Pension Service now owns 405,237 shares of the company’s stock worth $43,202,000 after purchasing an additional 14,775 shares during the period. Finally, AlphaQuest LLC increased its holdings in Veralto by 181.7% in the 3rd quarter. AlphaQuest LLC now owns 44,335 shares of the company’s stock valued at $4,727,000 after buying an additional 28,599 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VLTO. Barclays raised their price target on shares of Veralto from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings cut shares of Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 31st. Citigroup dropped their target price on shares of Veralto from $112.00 to $111.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. UBS Group raised their price target on Veralto from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $105.00 price objective (down from $125.00) on shares of Veralto in a research note on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Veralto currently has an average rating of “Hold” and a consensus price target of $112.89.

Veralto Stock Performance

Shares of Veralto stock opened at $101.45 on Tuesday. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $110.11. The company has a current ratio of 1.57, a quick ratio of 1.40 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $25.19 billion, a PE ratio of 27.79, a PEG ratio of 2.82 and a beta of 0.89. The stock’s fifty day simple moving average is $100.95 and its 200 day simple moving average is $103.02.

Veralto Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a $0.13 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. This is a boost from Veralto’s previous quarterly dividend of $0.11. Veralto’s payout ratio is presently 14.25%.

Insider Transactions at Veralto

In other Veralto news, SVP Mattias Bystrom sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 31,430 shares in the company, valued at approximately $3,197,373.90. This trade represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.36% 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. This segment provides water solutions, including chemical reagents, services, and digital solutions.