Veralto Corporation (NYSE:VLTO) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,853 shares of the company's stock after selling 3,902 shares during the period. New York State Teachers Retirement System owned 0.08% of Veralto worth $18,988,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its position 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 period. Assenagon Asset Management S.A. grew its holdings in Veralto by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock valued at $1,417,000 after buying an additional 429 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Veralto by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock valued at $287,000 after acquiring an additional 333 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in shares of Veralto by 15.5% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company's stock worth $2,570,000 after acquiring an additional 3,392 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Veralto by 4.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company's stock valued at $302,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 10,418 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the completion of the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at approximately $10,090,805. This represents a 8.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the completion of the sale, the senior vice president owned 8,433 shares of the company's stock, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 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 Stock Up 0.9%

NYSE:VLTO traded up $0.92 during trading hours on Friday, hitting $103.75. The stock had a trading volume of 478,650 shares, compared to its average volume of 1,409,573. The company has a market cap 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 business has a 50 day simple moving average of $99.20 and a two-hundred day simple moving average of $98.48. Veralto Corporation has a 1-year low of $83.87 and a 1-year high of $115.00. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14.

Veralto (NYSE:VLTO - Get Free Report) last announced 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. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm 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 dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 30th. Veralto's payout ratio is 12.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VLTO. Northcoast Research began coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Royal Bank Of Canada upped their price target on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their price objective on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. 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 research report on Thursday, May 1st. Finally, Citigroup reduced 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $110.09.

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.