Pictet Asset Management Holding SA Sells 431,092 Shares of Veralto Corporation (NYSE:VLTO)

Pictet Asset Management Holding SA decreased its position in Veralto Corporation (NYSE:VLTO - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,333,797 shares of the company's stock after selling 431,092 shares during the period. Pictet Asset Management Holding SA owned 1.75% of Veralto worth $422,297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VLTO. Bernard Wealth Management Corp. bought a new stake in shares of Veralto during the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. bought a new position in shares of Veralto during the fourth quarter valued at approximately $43,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Veralto during the fourth quarter valued at approximately $44,000. Opal Wealth Advisors LLC bought a new stake in shares of Veralto during the first quarter valued at approximately $45,000. Finally, Grove Bank & Trust increased its position in shares of Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after acquiring an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Analyst Ratings Changes

VLTO has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" 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 stock a "sector perform" rating in a report on Thursday, May 1st. Northcoast Research assumed coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target on the stock. Citigroup dropped their target price 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. Finally, Robert W. Baird lifted their target price on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $110.09.

Veralto Trading Up 0.4%

NYSE:VLTO traded up $0.37 on Friday, hitting $103.35. 1,863,942 shares of the stock were exchanged, compared to its average volume of 1,405,824. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 4.14 and a beta of 0.91. Veralto Corporation has a 52 week low of $83.87 and a 52 week high of $115.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. The company's 50-day moving average price is $100.61 and its 200 day moving average price is $98.43.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS 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 company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 is Monday, June 30th. Veralto's dividend payout ratio (DPR) is 12.57%.

Insider Activity at Veralto

In other news, SVP Surekha Trivedi sold 848 shares of the company's stock in a transaction 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 owned 8,433 shares of the company's stock, valued at $847,938.15. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Melissa Aquino sold 31,689 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the transaction, the senior vice president directly owned 17,434 shares in the company, valued at $1,633,042.78. This represents a 64.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,913 shares of company stock worth $4,339,370. Corporate insiders own 0.36% of the company's stock.

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.