Mediolanum International Funds Ltd Trims Stock Position in Veralto Corporation (NYSE:VLTO)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Veralto Corporation by 6.9% during the first quarter, bringing their total shares owned to 123,004, valued at approximately $11.8 million.
• Veralto's recent quarterly earnings showed an EPS of $0.95, exceeding analysts' expectations of $0.87, with revenue totaling $1.33 billion.
• The company announced a quarterly dividend of $0.11, representing a 0.43% annualized yield, with the dividend payout ratio currently at 12.57%.

Mediolanum International Funds Ltd trimmed its position in Veralto Corporation (NYSE:VLTO - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,004 shares of the company's stock after selling 9,138 shares during the quarter. Mediolanum International Funds Ltd's holdings in Veralto were worth $11,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Veralto by 14.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 117,815 shares of the company's stock worth $11,481,000 after buying an additional 14,535 shares during the period. Phoenix Financial Ltd. increased its position in Veralto by 2.9% during the 1st quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company's stock valued at $454,000 after purchasing an additional 132 shares during the period. Pacer Advisors Inc. increased its position in Veralto by 34.2% during the 1st quarter. Pacer Advisors Inc. now owns 27,938 shares of the company's stock valued at $2,723,000 after purchasing an additional 7,116 shares during the period. Assetmark Inc. increased its position in Veralto by 1.2% during the 1st quarter. Assetmark Inc. now owns 22,203 shares of the company's stock valued at $2,164,000 after purchasing an additional 265 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in shares of Veralto by 2.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 12,225 shares of the company's stock worth $1,191,000 after buying an additional 299 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In other news, SVP Lesley Beneteau sold 458 shares of the company's stock in a transaction dated 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 sale, the senior vice president owned 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mattias Bystrom sold 2,500 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $99.96, for a total transaction of $249,900.00. Following the sale, the senior vice president directly owned 32,430 shares of the company's stock, valued at $3,241,702.80. The trade was a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,495 shares of company stock worth $3,349,660 over the last quarter. 0.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday. Northcoast Research assumed coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Veralto from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup dropped 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 upped their price target on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $112.44.

Veralto Stock Performance

VLTO traded up $0.59 during midday trading on Wednesday, hitting $105.62. 489,866 shares of the company traded hands, compared to its average volume of 1,392,009. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $26.18 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 4.12 and a beta of 0.91. The company's 50-day moving average is $100.89 and its 200 day moving average is $98.52. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 44.19%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. On average, research analysts expect that Veralto Corporation 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 paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio 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.