Veralto Co. (NYSE:VLTO) Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Veralto Co. (NYSE:VLTO) by 14.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,448,648 shares of the company’s stock after purchasing an additional 314,412 shares during the quarter. JPMorgan Chase & Co. owned 0.99% of Veralto worth $273,906,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VLTO. State Street Corp grew its holdings in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the last quarter. Principal Financial Group Inc. grew 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 worth $125,608,000 after buying an additional 757,389 shares during the last quarter. Geode Capital Management LLC increased its position in Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after buying an additional 558,393 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Veralto by 29.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock valued at $208,511,000 after buying an additional 418,588 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Veralto during the second quarter valued at $24,618,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. BMO Capital Markets raised their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group started coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. 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 report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.50.

Insider Activity at Veralto

In related 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 transaction, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of NYSE VLTO opened at $103.12 on Monday. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The stock has a fifty day moving average price of $105.12 and a two-hundred day moving average price of $105.58. The firm has a market cap of $25.50 billion, a P/E ratio of 31.83, a PEG ratio of 4.30 and a beta of 0.91.

Veralto (NYSE:VLTO) last announced its 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. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business posted $0.75 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.11 dividend. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Tuesday, December 31st. Veralto’s payout ratio is presently 13.58%.

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.