KLP Kapitalforvaltning AS Grows Stock Position in Veralto Corporation (NYSE:VLTO)

KLP Kapitalforvaltning AS boosted its position in Veralto Corporation (NYSE:VLTO - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,749 shares of the company's stock after acquiring an additional 7,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Veralto were worth $10,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VLTO. Geode Capital Management LLC grew its holdings in shares of Veralto by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock worth $670,781,000 after buying an additional 733,056 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Veralto by 1.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock worth $485,304,000 after buying an additional 54,795 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Veralto by 9.7% during the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock worth $462,538,000 after buying an additional 401,228 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $415,074,000 after buying an additional 509,104 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Veralto by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,157,143 shares of the company's stock worth $321,555,000 after purchasing an additional 431,607 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Stock Up 0.1%

Shares of VLTO stock traded up $0.11 during trading hours on Friday, hitting $103.38. 1,019,417 shares of the company were exchanged, compared to its average volume of 1,107,320. The business has a 50 day moving average of $100.81 and a two-hundred day moving average of $98.50. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00. The company has a market capitalization of $25.62 billion, a PE ratio of 29.54, a PEG ratio of 4.13 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Analysts anticipate that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Citigroup decreased their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Robert W. Baird boosted their price objective on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $111.18.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 31,689 shares of the firm'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 transaction, the senior vice president directly owned 17,434 shares of the company's stock, valued at approximately $1,633,042.78. This trade represents a 64.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,418 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at $10,090,805. The trade was a 8.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,913 shares of company stock worth $4,339,370 over the last 90 days. Company insiders own 0.36% of the company's stock.

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.