Bank Julius Baer & Co. Ltd Zurich Acquires 44,750 Shares of Veralto Corporation (NYSE:VLTO)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 386.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,335 shares of the company's stock after buying an additional 44,750 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Veralto were worth $5,635,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VLTO. Norges Bank purchased a new position in shares of Veralto during the fourth quarter valued at approximately $289,028,000. First Trust Advisors LP boosted its position in Veralto by 222.3% in the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company's stock worth $265,054,000 after purchasing an additional 1,794,992 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in Veralto in the fourth quarter worth $133,058,000. BNP Paribas Financial Markets purchased a new position in Veralto in the fourth quarter worth $96,888,000. Finally, Geode Capital Management LLC boosted its position in Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock worth $670,781,000 after purchasing an additional 733,056 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price objective on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Stifel Nicolaus boosted their price objective on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research report on Monday. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective on the stock. Citigroup cut their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird boosted their price objective on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $111.18.

Veralto Stock Performance

Shares of VLTO traded up $0.11 during mid-day trading on Friday, hitting $103.38. The stock had a trading volume of 1,019,417 shares, compared to its average volume of 1,387,994. The firm has a market cap of $25.62 billion, a P/E ratio of 29.54, a PEG ratio of 4.07 and a beta of 0.91. The business has a fifty day moving average price of $100.78 and a 200-day moving average price of $98.49. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.19 and a quick ratio of 1.92. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the company posted $0.84 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

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

Insider Activity at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the sale, the senior vice president directly owned 13,571 shares in the company, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the sale, the senior vice president owned 17,434 shares in the company, valued at approximately $1,633,042.78. The trade was a 64.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,913 shares of company stock worth $4,339,370 in the last 90 days. 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.