Mackenzie Financial Corp Raises Stock Position in Veralto Corporation (NYSE:VLTO)

Key Points

• Mackenzie Financial Corp increased its stake in Veralto Corporation by 10.5%, bringing its total holdings to 25,529 shares valued at approximately $2.49 million.
• Veralto recently reported earnings of $0.93 EPS, surpassing expectations, with revenue growth of 6.4% compared to the previous year.
• The company announced a quarterly dividend of $0.11 per share, reflecting a 0.4% dividend yield with a payout ratio of 12.29%.

Mackenzie Financial Corp raised its position in Veralto Corporation (NYSE:VLTO - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,529 shares of the company's stock after buying an additional 2,432 shares during the period. Mackenzie Financial Corp's holdings in Veralto were worth $2,488,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VLTO. Coldstream Capital Management Inc. boosted its holdings in Veralto by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock valued at $652,000 after purchasing an additional 110 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Veralto by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock worth $856,000 after purchasing an additional 113 shares during the period. Phoenix Financial Ltd. raised its position in Veralto by 2.9% in the 1st quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company's stock worth $454,000 after purchasing an additional 132 shares during the period. Figure 8 Investment Strategies LLC grew its holdings in Veralto by 1.1% in the 1st quarter. Figure 8 Investment Strategies LLC now owns 14,349 shares of the company's stock worth $1,398,000 after acquiring an additional 150 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Veralto by 4.3% in the 4th quarter. CreativeOne Wealth LLC now owns 4,219 shares of the company's stock worth $430,000 after acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 2,500 shares of Veralto stock in a transaction on Monday, May 12th. The shares were sold at an average price of $99.96, for a total value of $249,900.00. Following the completion of the transaction, the senior vice president directly owned 32,430 shares of the company's stock, valued at $3,241,702.80. This trade represents a 7.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction on Thursday, May 15th. The stock was 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 directly owned 13,571 shares of the company's stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,806 shares of company stock valued at $381,351. Corporate insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VLTO shares. Royal Bank Of Canada raised their price target on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Robert W. Baird raised their price target on shares of Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wolfe Research upgraded shares of Veralto from a "hold" rating to an "outperform" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the company a "buy" rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $114.00.

Veralto Stock Up 0.7%

Shares of VLTO stock traded up $0.72 during trading hours on Wednesday, hitting $107.28. 316,728 shares of the company's stock traded hands, compared to its average volume of 1,396,354. The stock's fifty day simple moving average is $101.39 and its two-hundred day simple moving average is $98.63. The stock has a market cap of $26.62 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 3.52 and a beta of 0.91. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 30th. Veralto's dividend payout ratio (DPR) is presently 12.29%.

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.