Mirae Asset Global Investments Co. Ltd. Grows Position in Veralto Corporation (NYSE:VLTO)

Mirae Asset Global Investments Co. Ltd. grew its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,883 shares of the company's stock after buying an additional 2,572 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Veralto were worth $3,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VLTO. Lafayette Investments Inc. boosted its holdings in Veralto by 27.9% during the first quarter. Lafayette Investments Inc. now owns 3,940 shares of the company's stock worth $384,000 after purchasing an additional 859 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Veralto by 0.7% during the first quarter. Illinois Municipal Retirement Fund now owns 83,642 shares of the company's stock worth $8,151,000 after purchasing an additional 575 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in Veralto by 13.7% during the first quarter. Transcend Capital Advisors LLC now owns 4,976 shares of the company's stock worth $485,000 after purchasing an additional 601 shares during the last quarter. Perpetual Ltd boosted its holdings in Veralto by 12.4% during the first quarter. Perpetual Ltd now owns 118,229 shares of the company's stock worth $11,521,000 after purchasing an additional 12,997 shares during the last quarter. Finally, Value Partners Investments Inc. boosted its holdings in Veralto by 100.6% during the first quarter. Value Partners Investments Inc. now owns 4,473 shares of the company's stock worth $436,000 after purchasing an additional 2,243 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on VLTO shares. Robert W. Baird increased their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada upped their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. 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 report on Monday, April 14th. Finally, Northcoast Research initiated coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Veralto currently has a consensus rating of "Hold" and an average target price of $110.09.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the transaction, the senior vice president directly owned 8,433 shares of the company's stock, valued at approximately $847,938.15. The trade was a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $99.96, for a total transaction of $249,900.00. Following the completion of the transaction, the senior vice president directly owned 32,430 shares in the company, valued at $3,241,702.80. This trade represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,913 shares of company stock worth $4,339,370 in the last ninety days. Corporate insiders own 0.36% of the company's stock.

Veralto Stock Up 0.9%

VLTO traded up $0.92 during mid-day trading on Friday, reaching $103.75. 478,650 shares of the stock were exchanged, compared to its average volume of 1,411,486. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. The stock has a market capitalization of $25.72 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 4.16 and a beta of 0.91. The company has a 50 day moving average price of $99.20 and a two-hundred day moving average price of $98.46. Veralto Corporation has a 1 year low of $83.87 and a 1 year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. As a group, research 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 issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's dividend payout ratio is 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.