Veralto Co. (NYSE:VLTO) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in Veralto Co. (NYSE:VLTO - Free Report) by 9,610.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,387 shares of the company's stock after acquiring an additional 405,171 shares during the period. GAMMA Investing LLC owned 0.17% of Veralto worth $39,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Veralto by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock valued at $2,989,011,000 after purchasing an additional 146,234 shares in the last quarter. Amundi boosted its stake in Veralto by 2.3% in the fourth quarter. Amundi now owns 7,169,702 shares of the company's stock valued at $731,084,000 after acquiring an additional 158,342 shares in the last quarter. Geode Capital Management LLC boosted its stake in Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock valued at $670,781,000 after acquiring an additional 733,056 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake 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 valued at $485,304,000 after acquiring an additional 54,795 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Veralto by 9.7% in the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock valued at $462,538,000 after acquiring an additional 401,228 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the sale, the chief executive officer now owns 116,637 shares of the company's stock, valued at $11,495,742.72. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction that occurred 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 now directly owns 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,917 shares of company stock worth $5,423,033 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

Veralto Stock Performance

Shares of Veralto stock traded up $0.62 during trading on Friday, hitting $100.29. 487,005 shares of the company's stock were exchanged, compared to its average volume of 1,448,574. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The business has a 50-day simple moving average of $95.32 and a 200-day simple moving average of $99.40. Veralto Co. has a 52-week low of $83.87 and a 52-week high of $115.00. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 4.24 and a beta of 0.97.

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, topping the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the company posted $0.84 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. On average, research analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. Veralto's payout ratio is 12.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Northcoast Research assumed coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price for the company. Royal Bank of Canada raised their target price on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Citigroup lowered their target price 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. Robert W. Baird raised their target price on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus raised their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $110.09.

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.