Mirae Asset Global Investments Co. Ltd. Acquires 8,288 Shares of Veralto Corporation $VLTO

Key Points

• Mirae Asset Global Investments increased its stake in Veralto Corporation by 26%, acquiring an additional 8,288 shares, bringing its total holdings to 40,171 shares valued at $4,055,000.
• CEO Jennifer Honeycutt sold 10,646 shares at an average price of $106.26, reducing her ownership by 9.11%, while institutional investors own approximately 91.28% of the company.
• Veralto reported earnings of $0.93 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.11 per share, with a total annualized dividend yield of 0.4%.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 26.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,171 shares of the company's stock after buying an additional 8,288 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Veralto were worth $4,055,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of Veralto by 16.1% during the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock worth $352,000 after acquiring an additional 479 shares during the last quarter. Merit Financial Group LLC boosted its position in Veralto by 55.6% during the first quarter. Merit Financial Group LLC now owns 5,536 shares of the company's stock worth $539,000 after purchasing an additional 1,979 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Veralto by 11.5% in the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock valued at $1,872,000 after purchasing an additional 1,985 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Veralto by 12.8% in the first quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock valued at $287,000 after purchasing an additional 333 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in shares of Veralto by 26.9% during the 1st quarter. Yousif Capital Management LLC now owns 37,754 shares of the company's stock worth $3,679,000 after buying an additional 7,992 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Veralto

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the company's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the completion of the sale, the chief executive officer owned 106,219 shares of the company's stock, valued at approximately $11,286,830.94. This represents a 9.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on VLTO. Raymond James Financial began coverage on shares of Veralto in a research note on Tuesday, August 26th. They issued a "market perform" rating on the stock. Barclays decreased their target price on Veralto from $120.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday. Weiss Ratings reissued a "hold (c+)" rating on shares of Veralto in a report on Saturday, September 27th. Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada increased their price objective on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $113.43.

Veralto Trading Down 1.0%

Shares of NYSE:VLTO opened at $106.10 on Tuesday. The business's 50 day simple moving average is $106.71 and its 200 day simple moving average is $100.83. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The company has a market capitalization of $26.33 billion, a P/E ratio of 29.64, a P/E/G ratio of 3.56 and a beta of 0.90.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results 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. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%.The company's revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. On average, research analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 30th. Veralto's dividend payout ratio is presently 12.29%.

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.

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