Raiffeisen Bank International AG Buys 17,370 Shares of Veralto Corporation (NYSE:VLTO)

Key Points

• Raiffeisen Bank International AG significantly increased its holdings in Veralto Corporation by 464.2% during the first quarter, owning 21,112 shares worth approximately $2.03 million.
• Veralto reported a net margin of 16.65% for its last quarter, with earnings per share of $0.93, exceeding analysts' expectations.
• The stock has an average rating of "Moderate Buy" from analysts, with a consensus target price set at $114.00.

Raiffeisen Bank International AG lifted its position in Veralto Corporation (NYSE:VLTO - Free Report) by 464.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,112 shares of the company's stock after buying an additional 17,370 shares during the quarter. Raiffeisen Bank International AG's holdings in Veralto were worth $2,028,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VLTO. Argent Trust Co grew its position in Veralto by 1.8% during the first quarter. Argent Trust Co now owns 8,096 shares of the company's stock valued at $789,000 after acquiring an additional 140 shares during the last quarter. Avalon Trust Co grew its position in Veralto by 0.4% during the first quarter. Avalon Trust Co now owns 131,843 shares of the company's stock valued at $12,848,000 after acquiring an additional 511 shares during the last quarter. Manchester Capital Management LLC grew its position in Veralto by 772.3% during the first quarter. Manchester Capital Management LLC now owns 6,760 shares of the company's stock valued at $659,000 after acquiring an additional 5,985 shares during the last quarter. R Squared Ltd bought a new position in Veralto during the first quarter valued at approximately $356,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in Veralto by 6.9% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 397,815 shares of the company's stock valued at $38,702,000 after acquiring an additional 25,686 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 2,500 shares of Veralto stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $99.96, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the sale, the senior vice president owned 8,433 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 3,806 shares of company stock worth $381,351. 0.36% of the stock is owned by corporate insiders.

Veralto Stock Up 0.8%

Shares of VLTO traded up $0.87 during trading hours on Wednesday, hitting $107.43. The company had a trading volume of 1,081,781 shares, compared to its average volume of 1,364,702. The firm has a fifty day moving average price of $101.39 and a 200-day moving average price of $98.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 3.51 and a beta of 0.91. Veralto Corporation has a 52-week low of $83.86 and a 52-week high of $115.00.

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

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, June 30th. Veralto's dividend payout ratio (DPR) is presently 12.29%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" 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 research note on Wednesday, July 30th. Citigroup dropped their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wolfe Research raised Veralto from a "hold" rating to an "outperform" rating in a research note on Wednesday, July 30th. Finally, Northcoast Research initiated coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.