Teacher Retirement System of Texas lessened its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 47.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 328,258 shares of the company's stock after selling 300,059 shares during the period. Teacher Retirement System of Texas owned 0.13% of Veralto worth $31,989,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Defender Capital LLC. boosted its stake in shares of Veralto by 9.9% in the first quarter. Defender Capital LLC. now owns 158,284 shares of the company's stock worth $15,361,000 after acquiring an additional 14,311 shares during the period. Rossby Financial LCC bought a new stake in Veralto in the 1st quarter valued at $144,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Veralto by 1.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,399 shares of the company's stock valued at $7,640,000 after purchasing an additional 1,182 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Veralto by 0.6% during the 1st quarter. Vontobel Holding Ltd. now owns 552,608 shares of the company's stock valued at $53,852,000 after acquiring an additional 3,180 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Veralto by 1.1% in the 1st quarter. KBC Group NV now owns 1,016,875 shares of the company's stock valued at $99,095,000 after acquiring an additional 11,133 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on VLTO shares. Royal Bank Of Canada raised their target price on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Stifel Nicolaus boosted their price objective on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. 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 shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Citigroup decreased their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $110.09.
Get Our Latest Report on Veralto
Veralto Stock Up 0.9%
VLTO stock traded up $0.92 on Friday, hitting $103.75. 478,650 shares of the company's stock were exchanged, compared to its average volume of 1,409,573. The firm has a 50 day moving average price of $99.20 and a two-hundred day moving average price of $98.48. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. Veralto Corporation has a 12-month low of $83.87 and a 12-month high of $115.00. The stock has a market cap of $25.72 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 4.16 and a beta of 0.91.
Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. Veralto's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. As a group, equities research analysts expect that Veralto Corporation will post 3.66 EPS for the current fiscal year.
Veralto Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.42%. Veralto's dividend payout ratio is currently 12.57%.
Insider Buying and Selling at Veralto
In related news, 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 transaction of $46,184.72. Following the completion of the sale, the senior vice president owned 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mattias Bystrom sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $99.96, for a total transaction of $249,900.00. Following the transaction, the senior vice president directly owned 32,430 shares of the company's stock, valued at $3,241,702.80. This represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,913 shares of company stock worth $4,339,370. 0.36% of the stock is owned by corporate insiders.
Veralto Company Profile
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Free Report)
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.
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