Rhumbline Advisers Raises Holdings in Veralto Co. (NYSE:VLTO)

Rhumbline Advisers grew its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 496,371 shares of the company's stock after acquiring an additional 30,768 shares during the period. Rhumbline Advisers owned about 0.20% of Veralto worth $48,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Global Financial Private Client LLC grew its position in shares of Veralto by 95.1% during the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock valued at $58,000 after acquiring an additional 289 shares during the period. Parallel Advisors LLC grew its position in shares of Veralto by 9.5% during the 1st quarter. Parallel Advisors LLC now owns 3,660 shares of the company's stock valued at $357,000 after acquiring an additional 317 shares during the period. Summit Global Investments bought a new stake in shares of Veralto during the 1st quarter valued at $719,000. GAMMA Investing LLC boosted its holdings in Veralto by 9,610.3% in the 1st quarter. GAMMA Investing LLC now owns 409,387 shares of the company's stock worth $39,895,000 after buying an additional 405,171 shares during the period. Finally, Nexus Investment Management ULC bought a new position in Veralto in the 1st quarter worth $65,000. Institutional investors own 91.28% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on VLTO. Citigroup dropped their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank of Canada upped their target price 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. Stifel Nicolaus upped 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. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price for the company. Finally, Robert W. Baird upped 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $110.09.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now directly owns 116,637 shares in the company, valued at approximately $11,495,742.72. This represents a 8.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the sale, the senior vice president now owns 13,571 shares in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,917 shares of company stock worth $5,423,033. 0.36% of the stock is currently owned by corporate insiders.

Veralto Price Performance

Shares of VLTO traded up $0.56 during midday trading on Thursday, hitting $99.48. 866,946 shares of the company traded hands, compared to its average volume of 1,446,818. The firm has a 50 day moving average of $95.23 and a 200-day moving average of $99.45. Veralto Co. has a 52 week low of $83.87 and a 52 week high of $115.00. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

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 net margin of 16.04% and a return on equity of 49.29%. The business 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 earned $0.84 EPS. The business's revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced 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 0.44%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's dividend payout ratio is 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.