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

Mackenzie Financial Corp increased its stake in Veralto Co. (NYSE:VLTO - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,097 shares of the company's stock after purchasing 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 large investors have also added to or reduced their stakes in the company. David Wealth Management LLC bought a new stake in Veralto in the 4th quarter worth $1,013,000. Elo Mutual Pension Insurance Co raised its stake in Veralto by 15.5% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company's stock valued at $2,570,000 after buying an additional 3,392 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new stake in Veralto during the 4th quarter valued at about $1,446,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Veralto by 4.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company's stock valued at $302,000 after acquiring an additional 117 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Veralto by 12.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 100,376 shares of the company's stock valued at $10,223,000 after purchasing an additional 11,026 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total transaction of $85,266.40. Following the sale, the senior vice president now owns 8,433 shares of the company's stock, valued at $847,938.15. The trade was a 9.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Melissa Aquino sold 31,689 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the completion of the transaction, the senior vice president now directly owns 17,434 shares of the company's stock, valued at approximately $1,633,042.78. This represents a 64.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,917 shares of company stock worth $5,423,033. Corporate insiders own 0.36% of the company's stock.

Veralto Trading Down 1.4%

Veralto stock traded down $1.36 during mid-day trading on Wednesday, hitting $99.00. The stock had a trading volume of 980,513 shares, compared to its average volume of 1,449,138. The stock has a 50-day simple moving average of $95.23 and a two-hundred day simple moving average of $99.45. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00. The stock has a market capitalization of $24.54 billion, a PE ratio of 29.64, a P/E/G ratio of 4.24 and a beta of 0.99.

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

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 yield of 0.44%. The ex-dividend date is Monday, June 30th. Veralto's payout ratio is presently 12.57%.

Wall Street Analyst Weigh In

VLTO has been the topic of several research reports. Stifel Nicolaus lifted their target price on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Northcoast Research initiated coverage on Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target for the company. Robert W. Baird upped their price target on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Citigroup decreased 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. Finally, Royal Bank of Canada lifted their target price on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $110.09.

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.