Sargent Investment Group LLC Purchases Shares of 6,629 Veralto Corporation (NYSE:VLTO)

Sargent Investment Group LLC purchased a new stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,629 shares of the company's stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky increased its position in shares of Veralto by 11.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 19,086 shares of the company's stock valued at $1,860,000 after buying an additional 1,963 shares during the period. Kestra Private Wealth Services LLC grew its holdings in shares of Veralto by 5.2% during the first quarter. Kestra Private Wealth Services LLC now owns 12,915 shares of the company's stock worth $1,259,000 after purchasing an additional 634 shares in the last quarter. Burling Wealth Partners LLC increased its position in shares of Veralto by 60.2% in the first quarter. Burling Wealth Partners LLC now owns 32,339 shares of the company's stock worth $3,151,000 after purchasing an additional 12,151 shares during the last quarter. Bailard Inc. increased its position in shares of Veralto by 65.2% in the first quarter. Bailard Inc. now owns 3,484 shares of the company's stock worth $340,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Graypoint LLC increased its position in shares of Veralto by 15.7% in the first quarter. Graypoint LLC now owns 5,179 shares of the company's stock worth $505,000 after purchasing an additional 704 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Transactions at Veralto

In other 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 transaction, the senior vice president owned 32,430 shares of the company's stock, valued at $3,241,702.80. The trade was a 7.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the transaction, the senior vice president directly owned 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,913 shares of company stock worth $4,339,370 over the last quarter. Corporate insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VLTO. Robert W. Baird upped their target price on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Stifel Nicolaus upped their target price on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup cut their target price on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Northcoast Research began coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price for the company. Finally, Royal Bank Of Canada upped their target price on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Veralto has a consensus rating of "Hold" and an average target price of $110.09.

Veralto Trading Up 0.4%

Shares of Veralto stock traded up $0.37 on Friday, hitting $103.35. The stock had a trading volume of 1,863,942 shares, compared to its average volume of 1,405,824. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. Veralto Corporation has a one year low of $83.87 and a one year high of $115.00. The stock has a market cap of $25.62 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 4.14 and a beta of 0.91. The stock's 50-day simple moving average is $100.61 and its two-hundred day simple moving average is $98.43.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, sell-side analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.11 dividend. 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 is presently 12.57%.

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.