Forsta AP Fonden Has $5.95 Million Holdings in Veralto Corporation (NYSE:VLTO)

Key Points

• Forsta AP Fonden increased its holdings in Veralto Corporation by 11.9% during the first quarter, owning 61,008 shares worth approximately $5.94 million.
• Veralto reported a quarterly earnings per share (EPS) of $0.93, surpassing analysts' expectations of $0.89, with revenues increasing by 6.4% year-over-year.
• The company announced a quarterly dividend of $0.11, reflecting an annualized rate of $0.44 and a dividend yield of 0.4%.

Forsta AP Fonden increased its position in Veralto Corporation (NYSE:VLTO - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,008 shares of the company's stock after buying an additional 6,500 shares during the quarter. Forsta AP Fonden's holdings in Veralto were worth $5,945,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VLTO. Brighton Jones LLC lifted its holdings in shares of Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock valued at $352,000 after buying an additional 479 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Veralto by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 230,895 shares of the company's stock valued at $23,517,000 after buying an additional 1,861 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Veralto in the fourth quarter valued at $250,000. Raymond James Financial Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at $51,986,000. Finally, Treasurer of the State of North Carolina raised its position in shares of Veralto by 2.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 110,781 shares of the company's stock worth $11,283,000 after purchasing an additional 2,850 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Stock Down 1.8%

NYSE:VLTO traded down $1.99 during trading hours on Thursday, hitting $107.76. 686,089 shares of the company's stock traded hands, compared to its average volume of 1,382,061. The firm has a market cap of $26.74 billion, a P/E ratio of 30.10, a P/E/G ratio of 3.58 and a beta of 0.91. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $115.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. The stock's fifty day moving average price is $102.30 and its two-hundred day moving average price is $98.87.

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

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 848 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the transaction, the senior vice president directly owned 8,433 shares of the company's stock, valued at approximately $847,938.15. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent analyst reports. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price on the stock. Royal Bank Of Canada boosted their target price on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Robert W. Baird boosted their target price on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 target price on Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.43.

About Veralto

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.