Skandinaviska Enskilda Banken AB publ Increases Stake in Veralto Corporation (NYSE:VLTO)

Key Points

• Skandinaviska Enskilda Banken AB raised its stock holdings in Veralto Corporation by 14.1% during the first quarter, bringing its total to 117,815 shares valued at approximately $11.48 million.
• Veralto Corporation recently announced a quarterly dividend of $0.11 per share, with an ex-dividend date set for June 30th, representing an annual yield of 0.43%.
• The company reported $0.95 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.87 and reflecting a 6.9% increase in quarterly revenue compared to the same period last year.

Skandinaviska Enskilda Banken AB publ raised its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 14.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 117,815 shares of the company's stock after acquiring an additional 14,535 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Veralto were worth $11,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Phoenix Financial Ltd. boosted its position in Veralto by 2.9% during the first quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company's stock valued at $454,000 after purchasing an additional 132 shares in the last quarter. Pacer Advisors Inc. boosted its position in Veralto by 34.2% during the first quarter. Pacer Advisors Inc. now owns 27,938 shares of the company's stock valued at $2,723,000 after purchasing an additional 7,116 shares in the last quarter. Assetmark Inc. boosted its position in Veralto by 1.2% during the first quarter. Assetmark Inc. now owns 22,203 shares of the company's stock valued at $2,164,000 after purchasing an additional 265 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Veralto by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 12,225 shares of the company's stock valued at $1,191,000 after purchasing an additional 299 shares in the last quarter. Finally, Machina Capital S.A.S. boosted its position in Veralto by 32.1% during the first quarter. Machina Capital S.A.S. now owns 9,402 shares of the company's stock valued at $916,000 after purchasing an additional 2,286 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Veralto Stock Up 1.0%

NYSE VLTO traded up $1.05 during trading on Wednesday, hitting $106.08. The company's stock had a trading volume of 426,796 shares, compared to its average volume of 1,391,709. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.19 and a quick ratio of 1.92. The company has a market cap of $26.29 billion, a PE ratio of 29.66, a P/E/G ratio of 4.12 and a beta of 0.91. The business's 50 day simple moving average is $100.89 and its 200-day simple moving average is $98.52. Veralto Corporation has a fifty-two week low of $83.86 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data 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. Veralto had a return on equity of 44.19% and a net margin of 16.65%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the business posted $0.85 earnings per share. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's payout ratio is 12.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VLTO shares. Royal Bank Of Canada raised their price objective on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday. Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Citigroup dropped their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Robert W. Baird raised their price target on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Stifel Nicolaus raised their price target on Veralto from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $112.44.

Insider Transactions at Veralto

In other news, SVP Mattias Bystrom sold 2,500 shares of the firm's 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 directly owned 32,430 shares in the company, valued at $3,241,702.80. This trade represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Melissa Aquino sold 31,689 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the transaction, the senior vice president owned 17,434 shares of the company's stock, valued at approximately $1,633,042.78. The trade was a 64.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,495 shares of company stock valued at $3,349,660. 0.36% of the stock is owned by company insiders.

Veralto 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.