Veralto Corporation (NYSE:VLTO) Stock Position Lessened by Tredje AP fonden

Key Points

• Tredje AP fonden has reduced its stake in Veralto Corporation (NYSE:VLTO) by 44.4%, now holding 18,395 shares valued at approximately $1.79 million.
• Several institutional investors have significantly increased their positions in Veralto, with First Trust Advisors LP boosting its stake by 222.3% in the last quarter.
• Veralto recently announced a quarterly dividend of $0.11 per share, representing a 0.42% yield, with a payout ratio of 12.57%.

Tredje AP fonden trimmed its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 44.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,395 shares of the company's stock after selling 14,665 shares during the period. Tredje AP fonden's holdings in Veralto were worth $1,793,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in shares of Veralto in the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Veralto in the 1st quarter valued at approximately $45,000. Grove Bank & Trust increased its holdings in shares of Veralto by 198.2% in the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after acquiring an additional 339 shares during the last quarter. Global Financial Private Client LLC increased its holdings in shares of Veralto by 95.1% in the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock valued at $58,000 after acquiring an additional 289 shares during the last quarter. Finally, Putney Financial Group LLC bought a new stake in shares of Veralto in the 4th quarter valued at approximately $60,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veralto

In other news, SVP Lesley Beneteau sold 458 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the transaction, the senior vice president owned 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mattias Bystrom sold 2,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $99.96, for a total value of $249,900.00. Following the completion of the transaction, the senior vice president directly owned 32,430 shares of the company's stock, valued at approximately $3,241,702.80. The trade was a 7.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,806 shares of company stock valued at $381,351. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada boosted their price target on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a report on Wednesday. Robert W. Baird boosted their price target on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday. Wolfe Research upgraded Veralto from a "hold" rating to an "outperform" rating in a report on Wednesday. Northcoast Research initiated coverage on Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target for the company. Finally, Citigroup lowered their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Veralto Stock Performance

VLTO traded down $0.24 during trading on Friday, reaching $104.59. 1,297,928 shares of the company were exchanged, compared to its average volume of 1,261,852. The stock has a market cap of $25.96 billion, a P/E ratio of 29.22, a PEG ratio of 3.45 and a beta of 0.91. The firm has a 50 day moving average of $101.15 and a 200 day moving average of $98.61. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 1.00. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%. The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. On average, sell-side analysts forecast that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. Veralto's dividend payout ratio is presently 12.29%.

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.