Veralto Corporation (NYSE:VLTO) Stock Position Lessened by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. decreased its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,268 shares of the company's stock after selling 4,780 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Veralto were worth $1,780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Veralto in the fourth quarter valued at $25,000. Murphy & Mullick Capital Management Corp acquired a new stake in Veralto in the 4th quarter valued at about $44,000. Opal Wealth Advisors LLC purchased a new position in shares of Veralto in the 1st quarter valued at about $45,000. Grove Bank & Trust grew its position in shares of Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after buying an additional 339 shares in the last quarter. Finally, Global Financial Private Client LLC increased its stake in shares of Veralto by 95.1% during the first quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock worth $58,000 after buying an additional 289 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price target 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. Robert W. Baird raised their price objective on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Northcoast Research assumed coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Stifel Nicolaus increased their target price on Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a report on Monday. Finally, Citigroup decreased their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Veralto currently has an average rating of "Hold" and an average price target of $111.18.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 31,689 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the transaction, the senior vice president directly owned 17,434 shares of the company's stock, valued at $1,633,042.78. This represents a 64.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mattias Bystrom sold 2,500 shares of the 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 in the company, valued at $3,241,702.80. This trade 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 sold 45,913 shares of company stock valued at $4,339,370. 0.36% of the stock is owned by company insiders.

Veralto Stock Up 1.5%

Shares of NYSE:VLTO traded up $1.52 during midday trading on Thursday, hitting $103.33. 1,450,752 shares of the company's stock traded hands, compared to its average volume of 1,108,273. The firm's fifty day moving average price is $100.73 and its two-hundred day moving average price is $98.47. 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 twelve month low of $83.86 and a twelve month high of $115.00. The company has a market cap of $25.61 billion, a PE ratio of 27.97, a P/E/G ratio of 4.07 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period 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, equities research analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. Veralto's dividend payout ratio is currently 12.57%.

Veralto 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.