Veralto Corporation (NYSE:VLTO) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 1,121.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,902 shares of the company's stock after acquiring an additional 7,255 shares during the quarter. Penserra Capital Management LLC's holdings in Veralto were worth $770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cloud Capital Management LLC purchased a new stake in Veralto during the first quarter worth $64,000. Bank of New York Mellon Corp boosted its holdings in Veralto by 13.6% during the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock worth $415,074,000 after buying an additional 509,104 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in Veralto by 10.2% during the first quarter. IFM Investors Pty Ltd now owns 49,472 shares of the company's stock worth $4,821,000 after buying an additional 4,559 shares in the last quarter. Calamos Advisors LLC boosted its holdings in Veralto by 1.1% during the first quarter. Calamos Advisors LLC now owns 49,775 shares of the company's stock worth $4,851,000 after buying an additional 554 shares in the last quarter. Finally, Defender Capital LLC. boosted its holdings in Veralto by 9.9% during the first quarter. Defender Capital LLC. now owns 158,284 shares of the company's stock worth $15,361,000 after buying an additional 14,311 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Activity

In related news, SVP Mattias Bystrom sold 2,500 shares of the firm'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 completion of the sale, the senior vice president directly owned 32,430 shares in the company, valued at approximately $3,241,702.80. This trade represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Surekha Trivedi sold 848 shares of the firm'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 sale, the senior vice president owned 8,433 shares of the company's stock, valued at approximately $847,938.15. The trade was a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,913 shares of company stock valued at $4,339,370 in the last quarter. Insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on VLTO. Robert W. Baird increased their price objective on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Citigroup decreased their price objective 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 increased their price objective 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. Finally, Stifel Nicolaus increased their price objective on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $110.09.

Veralto Price Performance

Shares of NYSE VLTO traded down $1.24 during mid-day trading on Friday, reaching $101.89. The company's stock had a trading volume of 734,595 shares, compared to its average volume of 1,402,686. The stock has a 50-day moving average of $100.04 and a two-hundred day moving average of $98.48. The stock has a market capitalization of $25.25 billion, a P/E ratio of 29.11, a P/E/G ratio of 4.13 and a beta of 0.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. Veralto Corporation has a 1-year low of $83.87 and a 1-year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.28 billion. During the same period in the prior year, the business earned $0.84 earnings per share. The company's quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed 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 yield of 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's payout ratio is currently 12.57%.

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.