Veralto Corporation (NYSE:VLTO) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its position in Veralto Corporation (NYSE:VLTO - Free Report) by 91.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 713,592 shares of the company's stock after buying an additional 341,463 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.29% of Veralto worth $69,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Veralto during the 4th quarter worth $25,000. Lee Danner & Bass Inc. purchased a new stake in shares of Veralto in the fourth quarter worth about $43,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Veralto in the fourth quarter worth about $44,000. Opal Wealth Advisors LLC acquired a new stake in shares of Veralto in the first quarter valued at about $45,000. Finally, Grove Bank & Trust raised its holdings in shares of Veralto by 198.2% during the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after buying an additional 339 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Stock Up 0.3%

Shares of VLTO traded up $0.31 during midday trading on Monday, hitting $102.24. The company had a trading volume of 849,180 shares, compared to its average volume of 1,394,213. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 4.08 and a beta of 0.91. The company's 50 day moving average price is $100.04 and its 200 day moving average price is $98.41. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.84 earnings per share. Veralto's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.11 per share. 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 Activity

In other Veralto news, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the sale, the senior vice president owned 13,571 shares in the company, valued at $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mattias Bystrom sold 2,500 shares of the stock in a transaction 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 sale, the senior vice president directly owned 32,430 shares in the company, valued at $3,241,702.80. This trade represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird upped their price target on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Royal Bank Of Canada raised their price target 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. Citigroup dropped their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Northcoast Research began coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $110.09.

Veralto 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.