Allianz Asset Management GmbH Sells 70,539 Shares of Veralto Corporation (NYSE:VLTO)

Allianz Asset Management GmbH trimmed its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658,913 shares of the company's stock after selling 70,539 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.27% of Veralto worth $64,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VLTO. Bernard Wealth Management Corp. bought a new position in Veralto in the 4th quarter worth approximately $25,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Veralto in the fourth quarter valued at $44,000. Opal Wealth Advisors LLC purchased a new position in shares of Veralto in the first quarter valued at $45,000. Grove Bank & Trust grew its holdings in shares of Veralto by 198.2% in the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after purchasing an additional 339 shares in the last quarter. Finally, Global Financial Private Client LLC grew its holdings in shares of Veralto by 95.1% in the first quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock valued at $58,000 after purchasing an additional 289 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VLTO. Royal Bank Of Canada raised their target price on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Northcoast Research assumed coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price for the company. Citigroup lowered their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus raised their price target on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Robert W. Baird raised their price target on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Veralto has an average rating of "Hold" and an average target price of $111.18.

Veralto Stock Performance

VLTO stock opened at $102.19 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The business's fifty day simple moving average is $100.61 and its two-hundred day simple moving average is $98.41. Veralto Corporation has a twelve month low of $83.87 and a twelve month high of $115.00. The firm has a market cap of $25.33 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 4.14 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business's revenue was up 6.9% compared to the same quarter last year. Analysts predict that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto's dividend payout ratio is currently 12.57%.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,418 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer owned 106,219 shares in the company, valued at approximately $10,090,805. This trade represents a 8.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president owned 13,571 shares in the company, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,913 shares of company stock valued at $4,339,370. Company insiders own 0.36% 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.

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