Pacer Advisors Inc. Increases Stock Position in Veralto Corporation (NYSE:VLTO)

Key Points

• Pacer Advisors Inc. increased its stake in Veralto Corporation by 34.2%, now holding 27,938 shares worth approximately $2.7 million.
• Veralto reported a quarterly EPS of $0.93, beating estimates, and its revenue rose 6.4% year-over-year to $1.37 billion.
• The company declared a quarterly dividend of $0.11 per share, with a yield of 0.42% and a payout ratio of 12.57%.

Pacer Advisors Inc. increased its position in Veralto Corporation (NYSE:VLTO - Free Report) by 34.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,938 shares of the company's stock after purchasing an additional 7,116 shares during the quarter. Pacer Advisors Inc.'s holdings in Veralto were worth $2,723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Advisors LP grew 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 purchasing an additional 1,794,992 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Veralto during the 4th quarter worth approximately $133,058,000. BNP Paribas Financial Markets acquired a new position in shares of Veralto during the 4th quarter worth approximately $96,888,000. Geode Capital Management LLC grew its position in shares of Veralto by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock worth $670,781,000 after purchasing an additional 733,056 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Veralto during the 4th quarter worth approximately $51,986,000. 91.28% of the stock is owned by institutional investors.

Veralto Trading Down 0.2%

NYSE VLTO traded down $0.24 during mid-day trading on Friday, reaching $104.59. 1,297,928 shares of the stock were exchanged, compared to its average volume of 1,406,644. Veralto Corporation has a one year low of $83.86 and a one year high of $115.00. The stock has a 50 day simple moving average of $101.07 and a 200-day simple moving average of $98.59. The stock has a market cap of $25.96 billion, a P/E ratio of 29.22, a P/E/G ratio of 4.12 and a beta of 0.91. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 1.92.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. Veralto's payout ratio is presently 12.29%.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of analyst reports. Robert W. Baird increased their target price on shares of Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday. 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. Royal Bank Of Canada increased their price target on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Wolfe Research upgraded shares of Veralto from a "hold" rating to an "outperform" rating in a research report on Wednesday. Finally, Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the stock a "buy" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $114.00.

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $99.96, for a total transaction of $249,900.00. Following the transaction, the senior vice president directly owned 32,430 shares in the company, valued at approximately $3,241,702.80. The trade was a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction dated 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 transaction, the senior vice president owned 13,571 shares in the company, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,806 shares of company stock valued at $381,351 over the last three months. Corporate 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.