Veralto Corporation (NYSE:VLTO) Shares Purchased by Burling Wealth Partners LLC

Burling Wealth Partners LLC increased its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 60.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,339 shares of the company's stock after purchasing an additional 12,151 shares during the quarter. Burling Wealth Partners LLC's holdings in Veralto were worth $3,151,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Veralto by 16.1% in the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock worth $352,000 after buying an additional 479 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Veralto in the 4th quarter valued at about $84,000. EverSource Wealth Advisors LLC lifted its holdings in Veralto by 25.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,054 shares of the company's stock valued at $107,000 after purchasing an additional 213 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Veralto by 10.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,605 shares of the company's stock worth $265,000 after purchasing an additional 252 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Veralto by 4.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company's stock valued at $302,000 after buying an additional 117 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Trading Up 2.5%

Shares of Veralto stock traded up $2.48 during trading hours on Thursday, reaching $102.99. The stock had a trading volume of 1,155,377 shares, compared to its average volume of 1,400,189. The firm has a 50 day simple moving average of $100.37 and a two-hundred day simple moving average of $98.43. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 4.03 and a beta of 0.91. 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.

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

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.11 dividend. 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 (DPR) is currently 12.57%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 848 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president owned 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,913 shares of company stock valued at $4,339,370. Company insiders own 0.36% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on VLTO shares. Robert W. Baird raised their target price 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. Royal Bank Of Canada increased their target price on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Citigroup reduced their target price on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.