R Squared Ltd Makes New $356,000 Investment in Veralto Corporation (NYSE:VLTO)

Key Points

• R Squared Ltd has invested approximately $356,000 in Veralto Corporation by acquiring 3,650 shares in the first quarter of the year.
• Veralto's most recent quarterly earnings report showed $1.37 billion in revenue, surpassing analysts' expectations, with earnings per share of $0.93.
• Current analysts rate Veralto as a "Moderate Buy" with an average price target of $114.00, indicating potential for growth in the stock's value.

R Squared Ltd acquired a new position in shares of Veralto Corporation (NYSE:VLTO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,650 shares of the company's stock, valued at approximately $356,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock valued at $670,781,000 after purchasing an additional 733,056 shares during the last quarter. Invesco Ltd. increased its holdings in Veralto by 9.7% in the 4th quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock valued at $462,538,000 after buying an additional 401,228 shares during the period. Bank of New York Mellon Corp raised its position 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 valued at $415,074,000 after purchasing an additional 509,104 shares in the last quarter. Northern Trust Corp increased its stake in shares of Veralto by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,157,143 shares of the company's stock valued at $321,555,000 after purchasing an additional 431,607 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Veralto by 1.0% during the 1st quarter. Federated Hermes Inc. now owns 3,066,510 shares of the company's stock worth $298,831,000 after buying an additional 29,802 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Trading Up 0.8%

Veralto stock traded up $0.87 during mid-day trading on Wednesday, hitting $107.43. The company's stock had a trading volume of 1,081,756 shares, compared to its average volume of 1,401,703. The stock has a market cap of $26.66 billion, a PE ratio of 30.01, a P/E/G ratio of 3.52 and a beta of 0.91. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. Veralto Corporation has a one year low of $83.86 and a one year high of $115.00. The company has a 50 day moving average of $101.39 and a 200-day moving average of $98.63.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. Veralto's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research 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. Shareholders of record on Monday, June 30th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 30th. Veralto's payout ratio is 12.29%.

Insiders Place Their Bets

In related news, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total transaction of $85,266.40. Following the completion of the transaction, the senior vice president directly owned 8,433 shares of the company's stock, valued at $847,938.15. This represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,806 shares of company stock valued at $381,351 in the last 90 days. 0.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird upped their price target on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price target on Veralto and gave the stock a "buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Northcoast Research began coverage on Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

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.