Vanguard Group Inc. Has $2.90 Billion Stock Position in Veralto Corporation (NYSE:VLTO)

Key Points

• Vanguard Group Inc. increased its stake in Veralto Corporation by 1.3%, holding approximately 12% of the company, which is valued at about $2.90 billion.
• Several institutional investors, including Atria Wealth Solutions and Raiffeisen Bank, also boosted their positions in Veralto during the first quarter, highlighting strong institutional interest.
• Veralto reported a net margin of 16.65% and earnings per share of $0.93, exceeding analysts' expectations, with revenue for the quarter reaching $1.37 billion.

Vanguard Group Inc. grew its position in Veralto Corporation (NYSE:VLTO - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,737,470 shares of the company's stock after buying an additional 390,285 shares during the quarter. Vanguard Group Inc. owned approximately 12.00% of Veralto worth $2,897,916,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Atria Wealth Solutions Inc. boosted its holdings in shares of Veralto by 29.8% during the first quarter. Atria Wealth Solutions Inc. now owns 6,929 shares of the company's stock worth $675,000 after purchasing an additional 1,590 shares during the period. ING Groep NV boosted its holdings in shares of Veralto by 12.1% during the first quarter. ING Groep NV now owns 211,879 shares of the company's stock worth $20,648,000 after purchasing an additional 22,893 shares during the period. Raiffeisen Bank International AG boosted its holdings in shares of Veralto by 464.2% during the first quarter. Raiffeisen Bank International AG now owns 21,112 shares of the company's stock worth $2,028,000 after purchasing an additional 17,370 shares during the period. Argent Trust Co boosted its holdings in shares of Veralto by 1.8% during the first quarter. Argent Trust Co now owns 8,096 shares of the company's stock worth $789,000 after purchasing an additional 140 shares during the period. Finally, Avalon Trust Co raised its position in Veralto by 0.4% during the first quarter. Avalon Trust Co now owns 131,843 shares of the company's stock valued at $12,848,000 after acquiring an additional 511 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on VLTO shares. Robert W. Baird raised their price objective on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Northcoast Research started coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada lifted their price target on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.00.

Veralto Trading Up 0.2%

Shares of VLTO stock opened at $107.73 on Friday. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00. The firm's fifty day simple moving average is $101.78 and its 200 day simple moving average is $98.75. The firm has a market capitalization of $26.73 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 3.54 and a beta of 0.91. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Veralto's revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. Veralto's payout ratio is 12.29%.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $99.96, for a total transaction of $249,900.00. Following the transaction, the senior vice president 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction on 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 directly owned 13,571 shares in the company, valued at $1,368,499.64. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,806 shares of company stock valued at $381,351. 0.36% of the stock is owned by company 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.

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