Ninety One UK Ltd Increases Position in Veralto Corporation (NYSE:VLTO)

Ninety One UK Ltd boosted its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,444 shares of the company's stock after purchasing an additional 17,955 shares during the quarter. Ninety One UK Ltd's holdings in Veralto were worth $10,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VLTO. Norges Bank acquired a new position in shares of Veralto during the 4th quarter worth about $289,028,000. First Trust Advisors LP boosted its position in shares of Veralto by 222.3% during the 4th quarter. First Trust Advisors LP now owns 2,602,399 shares of the company's stock worth $265,054,000 after acquiring an additional 1,794,992 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Veralto in the 4th quarter valued at about $133,058,000. BNP Paribas Financial Markets acquired a new stake in shares of Veralto in the 4th quarter valued at about $96,888,000. Finally, Geode Capital Management LLC boosted its position in shares of Veralto by 12.5% in the 4th 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 during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup decreased their target price on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Robert W. Baird increased their price objective on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Royal Bank Of Canada raised their price target on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus raised 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $110.09.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the business's stock in a transaction dated 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 transaction, the senior vice president owned 17,434 shares in the company, valued at approximately $1,633,042.78. This represents a 64.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,913 shares of company stock valued at $4,339,370 in the last ninety days. Company insiders own 0.36% of the company's stock.

Veralto Trading Down 1.2%

Shares of VLTO stock traded down $1.24 during mid-day trading on Friday, hitting $101.89. 734,595 shares of the company's stock were exchanged, compared to its average volume of 1,404,091. Veralto Corporation has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The stock has a 50-day simple moving average of $100.04 and a two-hundred day simple moving average of $98.48. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 4.08 and a beta of 0.91.

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 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 business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The business's revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

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

About Veralto

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.