Veralto Corporation (NYSE:VLTO) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lowered its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,924,722 shares of the company's stock after selling 64,214 shares during the quarter. Veralto makes up about 2.3% of Impax Asset Management Group plc's holdings, making the stock its 6th largest holding. Impax Asset Management Group plc owned 1.58% of Veralto worth $381,688,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Veralto in the fourth quarter valued at approximately $289,028,000. First Trust Advisors LP grew its position in shares of 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 purchasing an additional 1,794,992 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Veralto in the fourth quarter valued at approximately $133,058,000. BNP Paribas Financial Markets purchased a new stake in shares of Veralto in the fourth quarter valued at approximately $96,888,000. Finally, Geode Capital Management LLC grew its position in shares of Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock valued at $670,781,000 after purchasing an additional 733,056 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Ratings Changes

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

Veralto Trading Up 0.9%

VLTO opened at $103.75 on Friday. Veralto Corporation has a 52 week low of $83.87 and a 52 week high of $115.00. The business has a fifty day simple moving average of $99.20 and a 200-day simple moving average of $98.48. The firm has a market cap of $25.72 billion, a P/E ratio of 29.64, a P/E/G ratio of 4.16 and a beta of 0.91. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14.

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

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given 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 0.42%. Veralto's dividend payout ratio is currently 12.57%.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 848 shares of the stock in a transaction 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 sale, the senior vice president directly owned 8,433 shares in the company, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Melissa Aquino sold 31,689 shares of the 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 completion of 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. Over the last 90 days, insiders sold 45,913 shares of company stock valued at $4,339,370. Corporate insiders own 0.36% of the company's stock.

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.

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