Asset Management One Co. Ltd. Grows Stake in Veralto Corporation (NYSE:VLTO)

Asset Management One Co. Ltd. grew its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 7.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,345 shares of the company's stock after purchasing an additional 7,704 shares during the period. Asset Management One Co. Ltd.'s holdings in Veralto were worth $10,558,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Veralto during the 4th quarter valued at $25,000. OFI Invest Asset Management purchased a new position in shares of Veralto during the 4th quarter valued at $26,000. Lee Danner & Bass Inc. purchased a new position in shares of Veralto during the 4th quarter valued at $43,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Veralto during the 4th quarter valued at $44,000. Finally, IFP Advisors Inc grew its position in shares of Veralto by 64.5% during the 4th quarter. IFP Advisors Inc now owns 454 shares of the company's stock valued at $46,000 after purchasing an additional 178 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VLTO. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Citigroup dropped their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada lifted their price objective on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Robert W. Baird lifted their price objective on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Veralto currently has an average rating of "Hold" and an average price target of $110.09.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 848 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total transaction of $85,266.40. Following the transaction, the senior vice president now directly owns 8,433 shares of the company's stock, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Lesley Beneteau sold 458 shares of the firm's 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 now directly owns 13,571 shares in the company, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,503 shares of company stock valued at $4,396,629. Company insiders own 0.36% of the company's stock.

Veralto Stock Up 1.1%

VLTO opened at $101.31 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. Veralto Corporation has a 1-year low of $83.87 and a 1-year high of $115.00. The company has a market capitalization of $25.11 billion, a PE ratio of 28.94, a PEG ratio of 4.31 and a beta of 0.97. The firm's 50 day simple moving average is $97.71 and its two-hundred day simple moving average is $98.58.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The company's revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. As a group, equities analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend on an annualized basis and a dividend yield of 0.43%. Veralto's dividend payout ratio is presently 12.57%.

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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