Blair William & Co. IL Has $12.54 Million Stock Holdings in Veralto Corporation (NYSE:VLTO)

Key Points

• Blair William & Co. IL reduced its holdings in Veralto Corporation by 5.8%, owning approximately 0.05% of the company, valued at around $12.54 million.
• Several institutional investors, including Invesco Ltd. and Bank of New York Mellon Corp, have recently increased their positions in Veralto, indicating strong interest from the market.
• Veralto reported a better-than-expected quarterly earnings of $0.93 per share, exceeding analysts' expectations, and has a current consensus price target of $114.00.

Blair William & Co. IL decreased its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,701 shares of the company's stock after selling 7,947 shares during the quarter. Blair William & Co. IL owned about 0.05% of Veralto worth $12,542,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Veralto by 16.1% during the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock worth $352,000 after purchasing an additional 479 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Veralto by 10.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,053 shares of the company's stock worth $1,126,000 after purchasing an additional 1,032 shares in the last quarter. World Investment Advisors increased its position in shares of Veralto by 56.7% during the fourth quarter. World Investment Advisors now owns 2,827 shares of the company's stock worth $288,000 after acquiring an additional 1,023 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Veralto by 0.8% during the 4th quarter. Wells Fargo & Company MN now owns 230,895 shares of the company's stock worth $23,517,000 after purchasing an additional 1,861 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Veralto during the 4th quarter valued at approximately $7,793,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 2,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $99.96, for a total value of $249,900.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the transaction, the senior vice president directly owned 13,571 shares in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their position. 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 over the last three months. Company insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VLTO shares. 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 for the company. Royal Bank Of Canada lifted their price objective on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 target price on shares of Veralto and gave the stock a "buy" rating in a report on Wednesday, July 30th. Robert W. Baird boosted their price objective on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Citigroup cut their target price 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Veralto has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Veralto Stock Performance

NYSE:VLTO traded up $0.87 during mid-day trading on Wednesday, hitting $107.43. The stock had a trading volume of 1,081,781 shares, compared to its average volume of 1,364,702. The company has a 50 day simple moving average of $101.39 and a 200-day simple moving average of $98.63. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 3.51 and a beta of 0.91. 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 Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

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. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $0.85 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

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.