Lecap Asset Management Ltd. Takes Position in Veralto Corporation (NYSE:VLTO)

Lecap Asset Management Ltd. bought a new position in shares of Veralto Corporation (NYSE:VLTO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,675 shares of the company's stock, valued at approximately $3,769,000. Veralto accounts for 0.9% of Lecap Asset Management Ltd.'s holdings, making the stock its 11th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Veralto by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock valued at $2,989,011,000 after purchasing an additional 146,234 shares during the last quarter. Amundi boosted its holdings in shares of Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company's stock worth $731,084,000 after purchasing an additional 158,342 shares during the last quarter. Geode Capital Management LLC boosted its stake in Veralto by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock worth $670,781,000 after buying an additional 733,056 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Veralto by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock valued at $485,304,000 after purchasing an additional 54,795 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Veralto by 9.7% during the 4th quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock worth $462,538,000 after buying an additional 401,228 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Up 1.9%

NYSE VLTO opened at $100.34 on Wednesday. Veralto Corporation has a 12 month low of $83.87 and a 12 month high of $115.00. The company has a market capitalization of $24.87 billion, a P/E ratio of 28.67, a PEG ratio of 4.23 and a beta of 0.97. The company's 50 day simple moving average is $97.26 and its 200 day simple moving average is $98.61. 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 (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The company 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 firm's revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. Equities research analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend on an annualized basis and a dividend yield of 0.44%. Veralto's dividend payout ratio (DPR) is 12.57%.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total transaction of $57,259.50. Following the transaction, the senior vice president now directly owns 10,011 shares in the company, valued at approximately $971,567.55. The trade was a 5.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the sale, the senior vice president now owns 17,434 shares of the company's stock, valued at $1,633,042.78. The trade was a 64.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,503 shares of company stock valued at $4,396,629. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Northcoast Research assumed 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. Citigroup decreased their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada raised 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. Robert W. Baird increased their price target on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus boosted their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $110.09.

Veralto Company 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.

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