Kentucky Retirement Systems Insurance Trust Fund Acquires Shares of 7,181 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 its most recent Form 13F filing 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 made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in shares of Veralto by 11.5% during the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock worth $1,872,000 after acquiring an additional 1,985 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Veralto by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock worth $1,417,000 after acquiring an additional 429 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Veralto by 12.8% during the first quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock worth $287,000 after acquiring an additional 333 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in shares of Veralto by 15.5% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company's stock worth $2,570,000 after acquiring an additional 3,392 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Veralto by 4.1% in the 4th 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 last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Performance

Shares of Veralto stock traded down $0.09 during trading on Friday, hitting $101.03. 2,287,548 shares of the stock were exchanged, compared to its average volume of 1,418,379. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 4.35 and a beta of 0.97. The company has a fifty day moving average price of $97.94 and a 200-day moving average price of $98.50. Veralto Corporation has a 1-year low of $83.87 and a 1-year 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.

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

Veralto Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup lowered their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Northcoast Research assumed coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target on the stock. Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Royal Bank Of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $110.09.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total transaction of $57,259.50. Following the completion of the sale, the senior vice president now owns 10,011 shares of the company's stock, valued at approximately $971,567.55. The trade was a 5.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 sale, the chief executive officer now directly owns 106,219 shares of the company's stock, valued at $10,090,805. The trade was a 8.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,503 shares of company stock valued at $4,396,629. Company insiders own 0.36% of the company's stock.

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.