Wellington Management Group LLP Boosts Stake in Veralto Co. (NYSE:VLTO)

Wellington Management Group LLP lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 7.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 563,102 shares of the company’s stock after acquiring an additional 39,342 shares during the quarter. Wellington Management Group LLP’s holdings in Veralto were worth $57,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Public Sector Pension Investment Board boosted its holdings in shares of Veralto by 119.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,834 shares of the company’s stock valued at $1,212,000 after acquiring an additional 5,900 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in Veralto by 8.8% during the third quarter. Royal London Asset Management Ltd. now owns 128,677 shares of the company’s stock valued at $14,394,000 after purchasing an additional 10,390 shares during the period. Quantinno Capital Management LP boosted its holdings in Veralto by 7.4% in the third quarter. Quantinno Capital Management LP now owns 44,471 shares of the company’s stock worth $4,975,000 after purchasing an additional 3,071 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Veralto in the 3rd quarter worth approximately $576,000. Finally, State Street Corp raised its stake in Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after buying an additional 860,608 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

VLTO opened at $88.71 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock has a market capitalization of $22.00 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 4.24 and a beta of 0.97. Veralto Co. has a fifty-two week low of $86.04 and a fifty-two week high of $115.00. The company has a fifty day moving average of $98.73 and a 200 day moving average of $103.48.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.50%. Veralto’s payout ratio is presently 13.17%.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of research reports. Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Stifel Nicolaus dropped their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada cut their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup reduced their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $113.50.

Insider Activity

In related news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,471 shares of company stock valued at $2,234,030. 0.31% of the stock is currently owned by company insiders.

Veralto Company 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.