Sentry Investment Management LLC Raises Stake in Veralto Co. (NYSE:VLTO)

Sentry Investment Management LLC raised its position in Veralto Co. (NYSE:VLTO) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,999 shares of the company’s stock after purchasing an additional 108 shares during the period. Sentry Investment Management LLC’s holdings in Veralto were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after buying an additional 1,568,103 shares in the last quarter. Capital International Investors raised its position in shares of Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 200,657 shares during the last quarter. Swedbank AB lifted its stake in Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after purchasing an additional 132,105 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Veralto by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after purchasing an additional 24,246 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Up 0.8 %

Veralto stock opened at $102.43 on Tuesday. The stock’s 50 day moving average price is $109.84 and its 200 day moving average price is $103.51. Veralto Co. has a 1-year low of $67.36 and a 1-year high of $115.00. The company has a market cap of $25.33 billion and a PE ratio of 31.61. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last posted its quarterly 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 business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. On average, sell-side analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada upped 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $108.27.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’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 value of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,038 shares of company stock valued at $3,989,693 in the last ninety days. Corporate insiders own 0.31% 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.