Stevens Capital Management LP Lowers Stock Holdings in Veralto Corporation (NYSE:VLTO)

Key Points

• Stevens Capital Management LP reduced its stake in Veralto Corporation by 88.8%, now holding 2,363 shares valued at $230,000.
• Veralto reported quarterly earnings of $0.95 per share, exceeding estimates, with a net margin of 16.56% and revenue growth of 6.9% year-over-year.
• The company announced a quarterly dividend of $0.11 per share, with a yield of 0.43%, set to be paid to shareholders on July 31st.

Stevens Capital Management LP lessened its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 88.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,363 shares of the company's stock after selling 18,659 shares during the period. Stevens Capital Management LP's holdings in Veralto were worth $230,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its position in Veralto by 1.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock worth $652,000 after purchasing an additional 110 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Veralto by 1.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock valued at $856,000 after purchasing an additional 113 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of Veralto by 3.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,999 shares of the company's stock valued at $407,000 after buying an additional 148 shares in the last quarter. Figure 8 Investment Strategies LLC boosted its stake in Veralto by 1.1% in the 1st quarter. Figure 8 Investment Strategies LLC now owns 14,349 shares of the company's stock worth $1,398,000 after purchasing an additional 150 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in Veralto by 4.3% in the 4th quarter. CreativeOne Wealth LLC now owns 4,219 shares of the company's stock worth $430,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Price Performance

Shares of VLTO stock traded up $0.58 during trading hours on Wednesday, hitting $105.61. 489,866 shares of the company's stock were exchanged, compared to its average volume of 1,392,009. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The firm has a market cap of $26.18 billion, a P/E ratio of 29.51, a P/E/G ratio of 4.12 and a beta of 0.91. The firm has a 50 day moving average of $100.89 and a two-hundred day moving average of $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 posted its quarterly earnings data on Monday, July 28th. The company reported $0.93 EPS for the quarter, beating 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 the consensus estimate of $1.34 billion. During the same period in the prior year, the company earned $0.85 EPS. The firm's revenue was up 6.4% compared to the same quarter last year. Sell-side analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's payout ratio is currently 12.57%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 848 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the completion of the transaction, the senior vice president directly owned 8,433 shares in the company, valued at $847,938.15. This trade represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction dated Thursday, May 1st. The shares were 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 $1,633,042.78. The trade was a 64.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,495 shares of company stock valued at $3,349,660. Insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.