Kentucky Retirement Systems Insurance Trust Fund Invests $700,000 in Veralto Corporation (NYSE:VLTO)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Veralto Corporation (NYSE:VLTO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,181 shares of the company's stock, valued at approximately $700,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in Veralto in the 4th quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in Veralto in the 4th quarter valued at approximately $26,000. BankPlus Trust Department acquired a new stake in Veralto in the 4th quarter valued at approximately $29,000. Lee Danner & Bass Inc. acquired a new stake in Veralto in the 4th quarter valued at approximately $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Veralto during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup lowered their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Robert W. Baird boosted their price target on 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 boosted their price target on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target on the stock. Finally, Stifel Nicolaus lifted 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. 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.com, the stock has an average rating of "Hold" and an average price target of $110.09.

Veralto Stock Performance

Shares of NYSE VLTO opened at $100.34 on Wednesday. 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 12 month low of $83.87 and a 12 month high of $115.00. The stock has a 50 day moving average of $97.26 and a 200-day moving average of $98.61. The company has a market capitalization of $24.87 billion, a P/E ratio of 28.67, a P/E/G ratio of 4.23 and a beta of 0.97.

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

Veralto Announces Dividend

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

Insiders Place Their Bets

In other Veralto news, SVP Lesley Beneteau sold 458 shares of Veralto 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 now owns 13,571 shares in the company, valued at $1,368,499.64. The trade was a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 10,418 shares of Veralto stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the completion of the sale, the chief executive officer now owns 106,219 shares of the company's stock, valued at $10,090,805. This trade represents a 8.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,503 shares of company stock worth $4,396,629 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding VLTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veralto Corporation (NYSE:VLTO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.