Veralto Corporation (NYSE:VLTO) Holdings Boosted by Perpetual Ltd

Perpetual Ltd increased its position in Veralto Corporation (NYSE:VLTO - Free Report) by 12.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,229 shares of the company's stock after purchasing an additional 12,997 shares during the period. Perpetual Ltd's holdings in Veralto were worth $11,521,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC lifted its holdings in Veralto by 11.5% in the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock worth $1,872,000 after acquiring an additional 1,985 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Veralto by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock worth $1,417,000 after acquiring an additional 429 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Veralto by 12.8% in the first quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock worth $287,000 after acquiring an additional 333 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in 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. lifted 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 worth $302,000 after acquiring an additional 117 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,418 shares of Veralto stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer now directly owns 106,219 shares in the company, valued at approximately $10,090,805. The trade was a 8.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,433 shares in the company, 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. Over the last 90 days, insiders have sold 46,503 shares of company stock worth $4,396,629. 0.36% of the stock is owned by insiders.

Veralto Price Performance

NYSE:VLTO traded down $0.09 during midday trading on Friday, hitting $101.03. 2,287,548 shares of the stock were exchanged, compared to its average volume of 1,450,040. Veralto Corporation has a one year low of $83.87 and a one year high of $115.00. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 4.35 and a beta of 0.97. The business has a 50-day moving average price of $97.94 and a two-hundred day moving average price of $98.55. 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 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 firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.44%. Veralto's dividend payout ratio (DPR) is 12.57%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VLTO. Robert W. Baird raised their target price on shares of 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 lifted 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. Northcoast Research began coverage on Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target on the stock. Citigroup cut their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus lifted their price target on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Veralto has a consensus rating of "Hold" and an average target price of $110.09.

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.