Veralto Corporation (NYSE:VLTO) Stock Position Decreased by Palisade Capital Management LP

Palisade Capital Management LP decreased its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,896 shares of the company's stock after selling 3,440 shares during the period. Palisade Capital Management LP's holdings in Veralto were worth $5,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bernard Wealth Management Corp. acquired a new position in Veralto during the 4th quarter worth $25,000. OFI Invest Asset Management acquired a new position in shares of Veralto in the 4th quarter valued at $26,000. Lee Danner & Bass Inc. bought a new stake in shares of Veralto in the 4th quarter valued at $43,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Veralto in the 4th quarter valued at $44,000. Finally, IFP Advisors Inc increased its holdings in Veralto by 64.5% during the 4th quarter. IFP Advisors Inc now owns 454 shares of the company's stock worth $46,000 after purchasing an additional 178 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veralto

In other Veralto news, SVP Lesley Beneteau sold 458 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the sale, the senior vice president owned 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $99.96, for a total value of $249,900.00. Following the sale, the senior vice president owned 32,430 shares of the company's stock, valued at $3,241,702.80. The trade was a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,913 shares of company stock valued at $4,339,370 over the last three months. 0.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Citigroup decreased their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Northcoast Research began coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Six research 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, Veralto currently has an average rating of "Hold" and an average target price of $110.09.

Veralto Stock Performance

Shares of Veralto stock traded up $0.92 during midday trading on Friday, hitting $103.75. The company had a trading volume of 478,650 shares, compared to its average volume of 1,411,486. Veralto Corporation has a 12-month low of $83.87 and a 12-month high of $115.00. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The stock has a market cap of $25.72 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 4.16 and a beta of 0.91. The company has a fifty day simple moving average of $99.20 and a 200 day simple moving average of $98.44.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share 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 quarter last year, the firm posted $0.84 EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts predict that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio (DPR) is 12.57%.

Veralto 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.