Banque Cantonale Vaudoise Acquires New Position in Veralto Corporation (NYSE:VLTO)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Veralto Corporation, purchasing 16,737 shares valued at approximately $1.6 million in the first quarter.
• Analyst ratings for Veralto are mostly positive, with a consensus rating of "Moderate Buy" and a price target averaging around $114.00.
• Veralto recently declared a quarterly dividend of $0.11 per share, reflecting an annualized yield of 0.42% and a payout ratio of 12.57%.

Banque Cantonale Vaudoise acquired a new stake in Veralto Corporation (NYSE:VLTO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,737 shares of the company's stock, valued at approximately $1,631,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bernard Wealth Management Corp. acquired a new position in Veralto in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Veralto in the first quarter valued at $45,000. Grove Bank & Trust boosted its holdings in 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 acquiring an additional 339 shares during the last quarter. Global Financial Private Client LLC boosted its holdings in 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 acquiring an additional 289 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new position in Veralto in the fourth quarter valued at $60,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Stock Down 0.2%

Shares of NYSE VLTO traded down $0.24 on Friday, hitting $104.59. The company had a trading volume of 1,297,928 shares, compared to its average volume of 1,261,852. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00. The business has a 50 day moving average of $101.15 and a two-hundred day moving average of $98.61. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $25.96 billion, a P/E ratio of 29.22, a PEG ratio of 3.45 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.93 earnings per share 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company's revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $99.96, for a total value of $249,900.00. Following the transaction, the senior vice president owned 32,430 shares in the company, valued at approximately $3,241,702.80. The trade was a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the transaction, the senior vice president owned 8,433 shares in the company, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,806 shares of company stock worth $381,351. 0.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on VLTO shares. Royal Bank Of Canada lifted their target price on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a report on Wednesday. Northcoast Research started coverage on Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price on the stock. Stifel Nicolaus set a $120.00 target price on Veralto and gave the company a "buy" rating in a report on Wednesday. Wolfe Research upgraded Veralto from a "hold" rating to an "outperform" rating in a report on Wednesday. Finally, Robert W. Baird lifted their target price on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Veralto currently has a consensus rating of "Moderate Buy" and an average target price of $114.00.

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.