Metis Global Partners LLC Raises Holdings in Veralto Co. (NYSE:VLTO)

Metis Global Partners LLC grew its position in shares of Veralto Co. (NYSE:VLTO) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,407 shares of the company’s stock after purchasing an additional 1,222 shares during the quarter. Metis Global Partners LLC’s holdings in Veralto were worth $2,171,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after buying an additional 34,505 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Veralto by 19.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock worth $14,952,000 after buying an additional 27,891 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Veralto during the first quarter worth about $1,011,000. Canada Pension Plan Investment Board boosted its stake in shares of Veralto by 32.9% during the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock worth $23,256,000 after buying an additional 60,300 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Veralto by 126.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock worth $6,460,000 after buying an additional 37,721 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VLTO. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Robert W. Baird raised their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, TD Cowen raised their price objective 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. Seven 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 has a consensus rating of “Hold” and a consensus target price of $108.27.

Veralto Trading Down 0.4 %

Shares of VLTO opened at $102.68 on Friday. 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 Co. has a 1-year low of $70.06 and a 1-year high of $115.00. The stock has a market cap of $25.39 billion and a price-to-earnings ratio of 31.69. The firm has a 50 day simple moving average of $108.69 and a 200-day simple moving average of $104.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the transaction, the senior vice president now directly owns 11,918 shares in the company, valued at approximately $1,324,089.80. The trade was a 5.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,038 shares of company stock worth $3,989,693 in the last ninety days. Insiders own 0.31% of the company’s stock.

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.