New York State Common Retirement Fund reduced its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,896 shares of the company's stock after selling 21,029 shares during the period. New York State Common Retirement Fund owned approximately 0.10% of Veralto worth $23,280,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Xponance Inc. boosted its position in Veralto by 1.8% during the first quarter. Xponance Inc. now owns 46,784 shares of the company's stock valued at $4,559,000 after buying an additional 834 shares during the period. Mar Vista Investment Partners LLC increased its stake in shares of Veralto by 10.4% during the first quarter. Mar Vista Investment Partners LLC now owns 274,392 shares of the company's stock valued at $26,740,000 after purchasing an additional 25,757 shares in the last quarter. Weil Company Inc. increased its stake in shares of Veralto by 357.3% during the first quarter. Weil Company Inc. now owns 16,039 shares of the company's stock valued at $1,563,000 after purchasing an additional 12,532 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Veralto by 4.4% during the first quarter. Nisa Investment Advisors LLC now owns 60,857 shares of the company's stock valued at $5,937,000 after acquiring an additional 2,578 shares in the last quarter. Finally, Trium Capital LLP increased its position in shares of Veralto by 61.9% during the first quarter. Trium Capital LLP now owns 9,618 shares of the company's stock valued at $937,000 after acquiring an additional 3,676 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently weighed in on VLTO. Robert W. Baird raised 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. Citigroup dropped their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada raised their target price on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price on the stock. Finally, 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $110.09.
Get Our Latest Stock Report on VLTO
Veralto Stock Performance
Shares of Veralto stock traded up $1.67 during trading on Thursday, hitting $102.18. 500,417 shares of the company's stock were exchanged, compared to its average volume of 1,398,162. 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 business has a 50-day simple moving average of $100.37 and a 200-day simple moving average of $98.43. Veralto Corporation has a 52-week low of $83.87 and a 52-week high of $115.00. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 4.04 and a beta of 0.91.
Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $0.84 earnings per share. The firm's revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast 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. Stockholders of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto's dividend payout ratio (DPR) is 12.57%.
Insiders Place Their Bets
In other news, SVP Melissa Aquino sold 31,689 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the sale, the senior vice president directly owned 17,434 shares of the company's stock, valued at approximately $1,633,042.78. The trade was a 64.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $3,241,702.80. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,913 shares of company stock valued at $4,339,370. 0.36% of the stock is owned by company insiders.
About Veralto
(
Free Report)
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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