Avanza Fonder AB Purchases 3,026 Shares of Veralto Co. (NYSE:VLTO)

Avanza Fonder AB raised its stake in Veralto Co. (NYSE:VLTO - Free Report) by 14.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,552 shares of the company's stock after acquiring an additional 3,026 shares during the quarter. Avanza Fonder AB's holdings in Veralto were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in Veralto in the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in shares of Veralto during the 4th quarter worth approximately $26,000. BankPlus Trust Department acquired a new stake in shares of Veralto during the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Veralto during the 4th quarter worth approximately $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Veralto during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Stock Down 1.6%

Shares of Veralto stock traded down $1.55 on Friday, hitting $97.20. The company had a trading volume of 825,458 shares, compared to its average volume of 1,448,744. The firm has a market capitalization of $24.09 billion, a P/E ratio of 29.10, a P/E/G ratio of 4.24 and a beta of 0.97. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The stock has a 50-day moving average of $96.12 and a 200-day moving average of $99.12.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. Research analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio is presently 12.57%.

Insider Transactions at Veralto

In other news, SVP Lesley Beneteau sold 458 shares of the business'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 sale, the senior vice president now owns 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 document filed with the SEC, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the completion of the sale, the senior vice president now directly owns 8,433 shares in the company, valued at approximately $847,938.15. This represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,917 shares of company stock valued at $5,423,033 over the last 90 days. 0.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

VLTO has been the subject of several analyst reports. Stifel Nicolaus lifted their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Citigroup lowered their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Northcoast Research assumed 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $110.09.

About Veralto

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.