Spirepoint Private Client LLC Grows Stock Position in Veralto Corporation (NYSE:VLTO)

Spirepoint Private Client LLC boosted its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 24.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,515 shares of the company's stock after buying an additional 6,863 shares during the period. Spirepoint Private Client LLC's holdings in Veralto were worth $3,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Veralto in the 4th quarter worth approximately $289,028,000. First Trust Advisors LP boosted its stake in Veralto by 222.3% in the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company's stock valued at $265,054,000 after acquiring an additional 1,794,992 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in Veralto in the fourth quarter worth $133,058,000. BNP Paribas Financial Markets purchased a new stake in shares of Veralto during the 4th quarter valued at $96,888,000. Finally, Geode Capital Management LLC boosted its position in shares of Veralto by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock worth $670,781,000 after purchasing an additional 733,056 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Insider Transactions at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president now directly owns 13,571 shares of the company's stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were 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 now directly owns 8,433 shares of the company's stock, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,503 shares of company stock valued at $4,396,629 over the last 90 days. Corporate insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on VLTO. Robert W. Baird increased their price target on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Royal Bank Of Canada upped their price target on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of 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 on the stock in a research report on Monday, April 14th. Finally, Northcoast Research began coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target for the company. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $110.09.

Veralto Stock Performance

VLTO stock traded up $1.89 during midday trading on Tuesday, hitting $100.34. 1,490,174 shares of the stock traded hands, compared to its average volume of 1,426,630. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $115.00. 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 stock's fifty day simple moving average is $97.06 and its 200-day simple moving average is $98.60. The firm has a market cap of $24.87 billion, a P/E ratio of 28.67, a PEG ratio of 4.16 and a beta of 0.97.

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, topping analysts' consensus estimates of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. Veralto's quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, June 30th. Veralto's 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.