Teacher Retirement System of Texas lowered its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 47.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Veralto by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock worth $2,989,011,000 after purchasing an additional 146,234 shares during the last quarter. Amundi increased its position in Veralto by 2.3% in the fourth quarter. Amundi now owns 7,169,702 shares of the company's stock worth $731,084,000 after purchasing an additional 158,342 shares during the last quarter. Geode Capital Management LLC increased its position in Veralto by 12.5% in the fourth 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 during the last quarter. Pictet Asset Management Holding SA increased its position in Veralto by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock worth $485,304,000 after purchasing an additional 54,795 shares during the last quarter. Finally, Invesco Ltd. increased its position in Veralto by 9.7% in the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock worth $462,538,000 after purchasing an additional 401,228 shares during the last quarter. Institutional investors own 91.28% of the company's stock.
Veralto Trading Down 1.0%
Shares of VLTO traded down $1.06 during trading hours on Monday, reaching $102.69. 714,767 shares of the company traded hands, compared to its average volume of 1,408,700. The firm has a market cap of $25.45 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 4.16 and a beta of 0.91. Veralto Corporation has a 12-month low of $83.87 and a 12-month high of $115.00. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The stock's fifty day moving average price is $99.41 and its 200 day moving average price is $98.43.
Veralto (NYSE:VLTO - Get Free Report) last issued its 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 firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business's revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. Sell-side analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.
Veralto Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto's payout ratio is currently 12.57%.
Insider Transactions at Veralto
In related news, CEO Jennifer Honeycutt sold 10,418 shares of Veralto stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total value of $989,710.00. Following the completion of the sale, the chief executive officer directly owned 106,219 shares in the company, valued at $10,090,805. The trade was a 8.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 45,913 shares of company stock valued at $4,339,370 over the last three months. 0.36% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
VLTO has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Citigroup dropped their price objective 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. Royal Bank Of Canada lifted their price objective on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Northcoast Research started coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Robert W. Baird lifted their price objective 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $110.09.
Read Our Latest Analysis on VLTO
Veralto Company Profile
(
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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