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

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,883 shares of the company's stock after purchasing an additional 2,572 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Veralto were worth $3,062,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Bernard Wealth Management Corp. acquired a new position in Veralto during the 4th quarter worth $25,000. OFI Invest Asset Management acquired a new position in shares of Veralto during the fourth quarter worth about $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Veralto during the fourth quarter worth approximately $43,000. Murphy & Mullick Capital Management Corp acquired a new stake in Veralto in the fourth quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC purchased a new position in Veralto in the first quarter worth approximately $45,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VLTO shares. Citigroup lowered their target price 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. Royal Bank Of Canada upped their target price on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Robert W. Baird boosted their price target on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $110.09.

Veralto Stock Performance

Veralto stock traded up $0.92 during mid-day trading on Thursday, reaching $103.75. 478,650 shares of the company were exchanged, compared to its average volume of 1,408,732. The firm's 50-day simple moving average is $98.73 and its two-hundred day simple moving average is $98.48. Veralto Corporation has a twelve month low of $83.87 and a twelve month high of $115.00. The firm has a market cap of $25.72 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 4.11 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 (NYSE:VLTO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The business 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 quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Equities analysts predict that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.42%. Veralto's dividend payout ratio (DPR) is presently 12.57%.

Insider Activity

In related news, SVP Lesley Beneteau sold 458 shares of the business'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 sale, the senior vice president owned 13,571 shares of the company's stock, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mattias Bystrom sold 2,500 shares of the company'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 transaction, the senior vice president owned 32,430 shares in the company, valued at $3,241,702.80. The trade was a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,913 shares of company stock valued at $4,339,370 over the last three months. 0.36% of the stock is currently owned by corporate insiders.

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.