Mar Vista Investment Partners LLC Boosts Holdings in Veralto Corporation (NYSE:VLTO)

Mar Vista Investment Partners LLC lifted its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 10.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 274,392 shares of the company's stock after acquiring an additional 25,757 shares during the period. Veralto makes up about 2.2% of Mar Vista Investment Partners LLC's investment portfolio, making the stock its 26th biggest position. Mar Vista Investment Partners LLC owned 0.11% of Veralto worth $26,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. boosted its holdings in shares of Veralto by 1.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock valued at $652,000 after buying an additional 110 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Veralto by 1.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock valued at $856,000 after buying an additional 113 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Veralto by 4.1% in the fourth 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 period. Brown Brothers Harriman & Co. boosted its holdings in shares of Veralto by 3.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,999 shares of the company's stock valued at $407,000 after buying an additional 148 shares during the period. Finally, Figure 8 Investment Strategies LLC boosted its holdings in shares of Veralto by 1.1% in the first quarter. Figure 8 Investment Strategies LLC now owns 14,349 shares of the company's stock valued at $1,398,000 after buying an additional 150 shares during the period. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

VLTO traded down $1.24 on Friday, reaching $101.89. The company had a trading volume of 734,595 shares, compared to its average volume of 1,402,686. The business has a 50 day simple moving average of $99.91 and a 200 day simple moving average of $98.49. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 4.13 and a beta of 0.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. Veralto Corporation has a 52-week low of $83.87 and a 52-week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the business earned $0.84 earnings per share. The business's quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio is currently 12.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Northcoast Research assumed coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Royal Bank Of Canada increased their target price on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Stifel Nicolaus increased 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. Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Robert W. Baird increased 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $110.09.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Lesley Beneteau sold 458 shares of the firm's 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 owned 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,418 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total value of $989,710.00. Following the transaction, the chief executive officer directly owned 106,219 shares of the company's stock, valued at $10,090,805. This represents a 8.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,913 shares of company stock valued at $4,339,370. Company insiders own 0.36% of the company's stock.

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.