CenterBook Partners LP Buys 12,666 Shares of Veralto Corporation (NYSE:VLTO)

Key Points

• CenterBook Partners LP increased its stake in Veralto Corporation by 72.3% during the first quarter, now owning 30,178 shares valued at approximately $2,941,000.
• Veralto recently declared a quarterly dividend of $0.11 per share, resulting in an annual yield of 0.4% and a payout ratio of 12.29%.
• Analysts rate Veralto with an average rating of "Moderate Buy" and set an average target price of $114.00, amid various price adjustments from different firms.

CenterBook Partners LP raised its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 72.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 30,178 shares of the company's stock after buying an additional 12,666 shares during the quarter. CenterBook Partners LP's holdings in Veralto were worth $2,941,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VLTO. First Trust Advisors LP lifted its stake in Veralto by 222.3% in the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company's stock valued at $265,054,000 after buying an additional 1,794,992 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Veralto during the fourth quarter valued at about $133,058,000. BNP Paribas Financial Markets bought a new stake in shares of Veralto during the fourth quarter valued at about $96,888,000. Raymond James Financial Inc. bought a new stake in shares of Veralto during the fourth quarter valued at about $51,986,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Veralto by 13.6% during the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock valued at $415,074,000 after purchasing an additional 509,104 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Price Performance

NYSE:VLTO traded up $0.19 during mid-day trading on Friday, reaching $107.73. 522,953 shares of the stock were exchanged, compared to its average volume of 1,359,846. The business has a fifty day moving average price of $101.78 and a 200 day moving average price of $98.75. The firm has a market capitalization of $26.73 billion, a PE ratio of 30.09, a PEG ratio of 3.54 and a beta of 0.91. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $115.00. 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 issued its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%. Veralto's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Research analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Robert W. Baird lifted their price objective on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Citigroup cut their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the company a "buy" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 2,500 shares of Veralto stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $99.96, for a total transaction of $249,900.00. Following the completion of the sale, the senior vice president directly owned 32,430 shares in the company, valued at $3,241,702.80. The trade was a 7.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the sale, the senior vice president owned 8,433 shares of the company's stock, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,806 shares of company stock valued at $381,351 in the last 90 days. 0.36% of the stock is currently owned by corporate 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.