Spirepoint Private Client LLC Boosts Stake in Veralto Corporation (NYSE:VLTO)

Spirepoint Private Client LLC grew its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,515 shares of the company's stock after purchasing an additional 6,863 shares during the quarter. Spirepoint Private Client LLC's holdings in Veralto were worth $3,461,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its position in shares of Veralto by 11.5% during the 1st quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock valued at $1,872,000 after purchasing an additional 1,985 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Veralto by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock valued at $1,417,000 after buying an additional 429 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Veralto by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock worth $287,000 after buying an additional 333 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in shares of Veralto by 15.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company's stock worth $2,570,000 after buying an additional 3,392 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Veralto by 4.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company's stock worth $302,000 after buying an additional 117 shares during the period. Institutional investors own 91.28% of the company's stock.

Veralto Stock Down 0.1%

Shares of NYSE:VLTO traded down $0.09 during midday trading on Friday, hitting $101.03. 2,287,548 shares of the company's stock were exchanged, compared to its average volume of 1,450,040. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.19 and a quick ratio of 1.92. Veralto Corporation has a 12 month low of $83.87 and a 12 month high of $115.00. The company has a market cap of $25.04 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 4.35 and a beta of 0.97. The stock has a 50 day moving average price of $97.94 and a 200-day moving average price of $98.55.

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

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.44%. Veralto's dividend payout ratio (DPR) is currently 12.57%.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of research reports. Citigroup dropped their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Northcoast Research initiated coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Royal Bank Of Canada increased their price objective on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Stifel Nicolaus boosted their target price on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Robert W. Baird upped their price target on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $110.09.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total transaction of $57,259.50. Following the transaction, the senior vice president now directly owns 10,011 shares in the company, valued at approximately $971,567.55. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lesley Beneteau sold 458 shares of the 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 completion of the sale, the senior vice president now owns 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 46,503 shares of company stock valued at $4,396,629. 0.36% of the stock is owned by insiders.

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.