Citizens Financial Group Inc. RI Has $337,000 Holdings in Veralto Co. (NYSE:VLTO)

Citizens Financial Group Inc. RI increased its holdings in Veralto Co. (NYSE:VLTO) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,015 shares of the company’s stock after buying an additional 534 shares during the period. Citizens Financial Group Inc. RI’s holdings in Veralto were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after acquiring an additional 200,657 shares in the last quarter. Swedbank AB increased its position in shares of Veralto by 4.9% in 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 period. Clearbridge Investments LLC raised its stake 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. Principal Financial Group Inc. lifted its position in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares during the period. Finally, abrdn plc grew its stake in Veralto by 4.2% during the third quarter. abrdn plc now owns 1,090,949 shares of the company’s stock worth $121,052,000 after buying an additional 43,945 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

NYSE VLTO opened at $106.41 on Friday. The company has a market capitalization of $26.32 billion and a price-to-earnings ratio of 32.84. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a twelve month low of $72.23 and a twelve month high of $115.00. The stock has a fifty day simple moving average of $108.11 and a 200 day simple moving average of $104.45.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Sell-side analysts expect that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given 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 dividend yield of 0.34%. Veralto’s dividend payout ratio (DPR) is currently 11.11%.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. TD Cowen lifted their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Robert W. Baird upped their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $108.27.

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.