Veralto Corporation (NYSE:VLTO) Stake Increased by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,472 shares of the company's stock after acquiring an additional 4,559 shares during the quarter. IFM Investors Pty Ltd's holdings in Veralto were worth $4,821,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VLTO. Brighton Jones LLC increased its stake in Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock valued at $352,000 after purchasing an additional 479 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Veralto in the fourth quarter valued at $84,000. Jones Financial Companies Lllp increased its stake in Veralto by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 4,469 shares of the company's stock valued at $455,000 after purchasing an additional 928 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Veralto in the fourth quarter valued at $80,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Veralto by 21.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,306 shares of the company's stock valued at $439,000 after purchasing an additional 761 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada upped their target price on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Northcoast Research began coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target for the company. Stifel Nicolaus boosted their price target on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Citigroup lowered their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird boosted their price target on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Six 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $110.09.

Veralto Stock Performance

VLTO traded up $0.80 during trading hours on Thursday, hitting $103.17. The company's stock had a trading volume of 1,147,783 shares, compared to its average volume of 1,406,558. Veralto Corporation has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $25.57 billion, a PE ratio of 29.48, a PEG ratio of 4.10 and a beta of 0.91. The company 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 issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. As a group, sell-side analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio is presently 12.57%.

Insider Buying and Selling at Veralto

In other news, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction 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 completion of the sale, the senior vice president directly owned 13,571 shares of the company's stock, valued at $1,368,499.64. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mattias Bystrom sold 2,500 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $99.96, for a total value of $249,900.00. Following the sale, the senior vice president directly owned 32,430 shares of the company's stock, valued at approximately $3,241,702.80. This represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,913 shares of company stock worth $4,339,370. 0.36% of the stock is owned by insiders.

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.