MQS Management LLC Acquires New Stake in Veralto Corporation (NYSE:VLTO)

MQS Management LLC purchased a new position in Veralto Corporation (NYSE:VLTO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,512 shares of the company's stock, valued at approximately $732,000.

Several other hedge funds have also recently made changes to their positions in VLTO. Norges Bank purchased a new position in shares of Veralto during the fourth quarter valued at approximately $289,028,000. First Trust Advisors LP boosted its position in shares of Veralto by 222.3% during the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company's stock valued at $265,054,000 after purchasing an additional 1,794,992 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Veralto during the fourth quarter valued at approximately $133,058,000. BNP Paribas Financial Markets bought a new stake in shares of Veralto during the fourth quarter valued at approximately $96,888,000. Finally, Geode Capital Management LLC boosted its position in shares of Veralto by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock valued at $670,781,000 after purchasing an additional 733,056 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VLTO shares. Citigroup dropped their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lifted their price target on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada lifted their price target on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Robert W. Baird lifted their price target on 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 price target on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $110.09.

Veralto Stock Down 1.2%

Veralto stock traded down $1.24 during mid-day trading on Friday, hitting $101.89. The company had a trading volume of 734,595 shares, compared to its average volume of 1,404,091. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The stock's 50 day moving average price is $100.04 and its two-hundred day moving average price is $98.44. Veralto Corporation has a 12 month low of $83.87 and a 12 month high of $115.00. The company has a market capitalization of $25.25 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 4.08 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company's 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 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the transaction, the senior vice president owned 8,433 shares in the company, valued at $847,938.15. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Melissa Aquino sold 31,689 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the transaction, the senior vice president owned 17,434 shares of the company's stock, valued at $1,633,042.78. This represents a 64.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,913 shares of company stock valued at $4,339,370. 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.