ASR Vermogensbeheer N.V. Makes New $1.72 Million Investment in Veralto Corporation (NYSE:VLTO)

Key Points

• ASR Vermogensbeheer N.V. has acquired 17,612 shares of Veralto Corporation, valued at approximately $1.72 million, during the first quarter.
• Veralto's latest earnings report shows a EPS of $0.93, exceeding analysts' estimates, alongside a revenue increase of 6.4% year-over-year.
• Several analysts have recently updated their price targets for Veralto, with the consensus price target set at $114.00 and a majority rating it as a "Moderate Buy."

ASR Vermogensbeheer N.V. bought a new stake in Veralto Corporation (NYSE:VLTO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,612 shares of the company's stock, valued at approximately $1,716,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of VLTO. Brighton Jones LLC lifted its position in shares of Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock worth $352,000 after purchasing an additional 479 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Veralto by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 230,895 shares of the company's stock valued at $23,517,000 after purchasing an additional 1,861 shares during the period. Cerity Partners LLC raised its stake in shares of Veralto by 2.7% during the 4th quarter. Cerity Partners LLC now owns 68,255 shares of the company's stock worth $7,056,000 after purchasing an additional 1,773 shares in the last quarter. FIL Ltd raised its stake in Veralto by 16.1% in the 4th quarter. FIL Ltd now owns 414,287 shares of the company's stock valued at $42,195,000 after acquiring an additional 57,304 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Veralto during the 4th quarter worth $250,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VLTO has been the topic of several analyst reports. Citigroup reduced their target price on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Robert W. Baird raised their price objective on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Northcoast Research assumed coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, Stifel Nicolaus set a $120.00 price objective on Veralto and gave the company a "buy" rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Veralto Trading Down 0.5%

Veralto stock traded down $0.53 during trading hours on Monday, hitting $107.17. The stock had a trading volume of 1,203,336 shares, compared to its average volume of 1,390,598. Veralto Corporation has a one year low of $83.86 and a one year high of $115.00. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 29.94, a P/E/G ratio of 3.55 and a beta of 0.91. The business's 50 day simple moving average is $101.92 and its 200-day simple moving average is $98.73.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Veralto had a return on equity of 41.45% and a net margin of 16.65%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. On average, equities analysts predict that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.4%. Veralto's dividend payout ratio (DPR) is currently 12.29%.

Insider Activity at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the transaction, the senior vice president owned 13,571 shares of the company's stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the sale, the senior vice president owned 8,433 shares in the company, valued at $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.