J. Safra Sarasin Holding AG Has $3.44 Million Holdings in Veralto Corporation (NYSE:VLTO)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Veralto Corporation (NYSE:VLTO) by 41.5%, selling 25,021 shares during the first quarter, leaving it with a total of 35,297 shares valued at $3.44 million.
• Veralto recently reported a net income of $0.93 per share, exceeding analyst expectations, with revenue increasing by 6.4% year-over-year to $1.37 billion.
• The company announced a quarterly dividend of $0.11 per share, which reflects an annualized dividend yield of 0.4%, and has a dividend payout ratio of 12.29%.

J. Safra Sarasin Holding AG reduced its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,297 shares of the company's stock after selling 25,021 shares during the period. J. Safra Sarasin Holding AG's holdings in Veralto were worth $3,440,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Veralto in the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in Veralto in the 1st quarter valued at about $45,000. Grove Bank & Trust boosted its position in Veralto by 198.2% in the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after buying an additional 339 shares during the last quarter. Global Financial Private Client LLC boosted its position in Veralto by 95.1% in the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock valued at $58,000 after buying an additional 289 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in Veralto in the 4th quarter valued at about $60,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VLTO shares. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada increased their price target on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Northcoast Research started coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target on the stock. Robert W. Baird increased their price target on shares of Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Insider Activity at Veralto

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

Veralto Stock Performance

VLTO traded up $0.68 during trading on Wednesday, hitting $107.24. The stock had a trading volume of 140,757 shares, compared to its average volume of 1,395,087. The firm has a market cap of $26.61 billion, a PE ratio of 29.91, a P/E/G ratio of 3.52 and a beta of 0.91. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $115.00. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $101.39 and a 200-day simple moving average of $98.63.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The business's revenue was up 6.4% compared to the same quarter last year. Analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced 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 of this dividend was Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. Veralto's payout ratio is presently 12.29%.

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.