Veralto Corporation (NYSE:VLTO) is Impax Asset Management Group plc's 6th Largest Position

Impax Asset Management Group plc lowered its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,924,722 shares of the company's stock after selling 64,214 shares during the quarter. Veralto comprises 2.3% of Impax Asset Management Group plc's portfolio, making the stock its 6th largest position. Impax Asset Management Group plc owned approximately 1.58% of Veralto worth $381,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLTO. Bernard Wealth Management Corp. bought a new stake in shares of Veralto in the 4th quarter worth $25,000. OFI Invest Asset Management bought a new stake in Veralto during the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new stake in Veralto during the fourth quarter valued at about $43,000. Murphy & Mullick Capital Management Corp bought a new stake in Veralto during the fourth quarter valued at about $44,000. Finally, IFP Advisors Inc boosted its stake in shares of Veralto by 64.5% in the fourth quarter. IFP Advisors Inc now owns 454 shares of the company's stock worth $46,000 after acquiring an additional 178 shares during the period. Institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

VLTO traded down $0.38 during trading on Tuesday, reaching $102.34. The company's stock had a trading volume of 933,216 shares, compared to its average volume of 1,407,613. Veralto Corporation has a 52-week low of $83.87 and a 52-week high of $115.00. The company's fifty day moving average price is $99.60 and its 200-day moving average price is $98.46. The company has a market capitalization of $25.37 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 4.11 and a beta of 0.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19.

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

Veralto Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VLTO shares. Citigroup dropped their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Robert W. Baird increased their price target on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Northcoast Research began coverage on Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Stifel Nicolaus raised their price objective on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada lifted their price target on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $110.09.

Insider Activity

In other Veralto news, SVP Melissa Aquino sold 31,689 shares of the firm's stock in a transaction that occurred 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. This trade represents a 64.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,418 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total transaction of $989,710.00. Following the completion of the sale, the chief executive officer owned 106,219 shares in the company, valued at $10,090,805. The trade was a 8.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,913 shares of company stock worth $4,339,370 in the last quarter. 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.