IFM Investors Pty Ltd Boosts Stock Position in Veralto Corporation (NYSE:VLTO)

IFM Investors Pty Ltd grew its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,472 shares of the company's stock after buying an additional 4,559 shares during the period. IFM Investors Pty Ltd's holdings in Veralto were worth $4,821,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Veralto in the fourth quarter worth $289,028,000. First Trust Advisors LP grew its stake in Veralto by 222.3% in the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company's stock worth $265,054,000 after purchasing an additional 1,794,992 shares during the period. Champlain Investment Partners LLC purchased a new stake in Veralto in the fourth quarter worth $133,058,000. BNP Paribas Financial Markets purchased a new stake in Veralto in the fourth quarter worth $96,888,000. Finally, Geode Capital Management LLC grew its stake in Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock worth $670,781,000 after purchasing an additional 733,056 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Veralto news, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,418 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total value of $989,710.00. Following the completion of the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at $10,090,805. The trade was a 8.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,913 shares of company stock valued at $4,339,370. 0.36% of the stock is currently owned by company insiders.

Veralto Stock Performance

Shares of Veralto stock traded up $0.14 during trading on Wednesday, hitting $102.47. 833,139 shares of the company's stock traded hands, compared to its average volume of 1,407,593. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.19 and a quick ratio of 1.92. Veralto Corporation has a 1 year low of $83.87 and a 1 year high of $115.00. The stock has a market capitalization of $25.40 billion, a P/E ratio of 29.28, a PEG ratio of 4.10 and a beta of 0.91. The business has a 50-day simple moving average of $99.73 and a 200-day simple moving average of $98.49.

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

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto's payout ratio is 12.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VLTO shares. Northcoast Research started coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target on the stock. Stifel Nicolaus increased their target price on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Robert W. Baird increased their target price on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note 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 note on Thursday, May 1st. Finally, Citigroup cut their target price on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $110.09.

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.