Mackenzie Financial Corp Purchases 3,831 Shares of Veralto Co. (NYSE:VLTO)

Mackenzie Financial Corp lifted its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,097 shares of the company's stock after buying an additional 3,831 shares during the period. Mackenzie Financial Corp's holdings in Veralto were worth $2,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in Veralto during the fourth quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Veralto during the fourth quarter valued at about $26,000. BankPlus Trust Department bought a new position in shares of Veralto during the 4th quarter worth about $29,000. Geneos Wealth Management Inc. bought a new position in shares of Veralto during the 4th quarter worth about $42,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Veralto in the 4th quarter valued at about $43,000. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Lesley Beneteau sold 458 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president now directly owns 13,571 shares of the company's stock, valued at $1,368,499.64. This represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now owns 116,637 shares of the company's stock, valued at approximately $11,495,742.72. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,069 shares of company stock worth $5,337,767. 0.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VLTO. Stifel Nicolaus upped their price target on Veralto from $102.00 to $104.00 and gave the stock a "buy" 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 target price on the stock. 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 report on Thursday, May 1st. Robert W. Baird boosted 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. Finally, Citigroup dropped their price objective 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $110.09.

Veralto Stock Down 0.7%

Shares of VLTO stock traded down $0.75 on Monday, hitting $100.28. The stock had a trading volume of 1,100,810 shares, compared to its average volume of 1,452,440. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The business has a 50 day moving average of $95.07 and a 200 day moving average of $99.46. Veralto Co. has a 12-month low of $83.87 and a 12-month high of $115.00. The stock has a market cap of $24.86 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. Veralto's dividend payout ratio (DPR) is currently 12.57%.

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.