Railway Pension Investments Ltd Acquires 157,000 Shares of Veralto Co. (NYSE:VLTO)

Railway Pension Investments Ltd increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 95.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 321,099 shares of the company’s stock after acquiring an additional 157,000 shares during the quarter. Railway Pension Investments Ltd owned approximately 0.13% of Veralto worth $28,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC boosted its holdings in shares of Veralto by 3.2% in the 1st quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock worth $352,000 after buying an additional 123 shares during the last quarter. Perkins Coie Trust Co grew its position in shares of Veralto by 2.7% during the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock valued at $618,000 after acquiring an additional 185 shares during the period. Czech National Bank increased its stake in shares of Veralto by 0.5% during the 1st quarter. Czech National Bank now owns 38,585 shares of the company’s stock worth $3,421,000 after purchasing an additional 192 shares during the last quarter. Equitable Trust Co. raised its holdings in shares of Veralto by 4.6% in the 1st quarter. Equitable Trust Co. now owns 4,880 shares of the company’s stock worth $433,000 after purchasing an additional 213 shares during the period. Finally, Motco raised its holdings in shares of Veralto by 53.7% in the 1st quarter. Motco now owns 610 shares of the company’s stock worth $54,000 after purchasing an additional 213 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of VLTO traded down $1.86 during mid-day trading on Friday, reaching $104.84. 1,698,801 shares of the stock traded hands, compared to its average volume of 1,388,023. The company has a current ratio of 1.96, a quick ratio of 1.56 and a debt-to-equity ratio of 1.56. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $107.86. The company has a market cap of $25.91 billion and a price-to-earnings ratio of 32.24. The firm has a fifty day moving average price of $99.58 and a 200 day moving average price of $92.03.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.34%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BMO Capital Markets boosted their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Citigroup increased their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. 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. Finally, The Goldman Sachs Group raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The disclosure for this sale can be found here. Insiders sold a total of 4,055 shares of company stock valued at $428,345 in the last quarter. 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.