Kingfisher Capital LLC Reduces Holdings in Veralto Co. (NYSE:VLTO)

Kingfisher Capital LLC cut its holdings in Veralto Co. (NYSE:VLTO) by 10.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,214 shares of the company’s stock after selling 493 shares during the period. Kingfisher Capital LLC’s holdings in Veralto were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Rockefeller Capital Management L.P. raised its holdings in Veralto by 2.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 210,291 shares of the company’s stock valued at $23,521,000 after buying an additional 4,186 shares during the period. PEAK6 Investments LLC boosted its position in shares of Veralto by 246.3% during the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after buying an additional 6,211 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Veralto by 119.6% in the third quarter. Public Sector Pension Investment Board now owns 10,834 shares of the company’s stock valued at $1,212,000 after buying an additional 5,900 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Veralto by 3.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,493 shares of the company’s stock worth $259,458,000 after acquiring an additional 82,470 shares in the last quarter. Finally, Fiduciary Trust Co boosted its holdings in Veralto by 10.7% during the 3rd quarter. Fiduciary Trust Co now owns 11,809 shares of the company’s stock valued at $1,321,000 after acquiring an additional 1,140 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated 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. This trade represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,448 shares of company stock worth $1,698,675 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Veralto Trading Up 0.0 %

Shares of VLTO stock opened at $107.97 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. The firm has a market cap of $26.70 billion and a P/E ratio of 33.32. The firm’s 50-day simple moving average is $108.02 and its 200-day simple moving average is $104.72. Veralto Co. has a 1-year low of $72.85 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. Veralto’s dividend payout ratio is currently 11.11%.

Analyst Ratings Changes

Several brokerages recently weighed in on VLTO. UBS Group initiated coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective 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 boosted their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Veralto presently has a consensus rating of “Hold” and a consensus target price of $108.27.

About Veralto

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.