Veralto Corporation (NYSE:VLTO) Shares Sold by Palisade Capital Management LP

Palisade Capital Management LP lowered its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,896 shares of the company's stock after selling 3,440 shares during the quarter. Palisade Capital Management LP's holdings in Veralto were worth $5,934,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in shares of Veralto in the 4th quarter valued at about $25,000. OFI Invest Asset Management purchased a new position in shares of Veralto in the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. purchased a new position in shares of Veralto in the 4th quarter valued at about $43,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Veralto in the 4th quarter valued at about $44,000. Finally, IFP Advisors Inc increased its holdings in shares of Veralto by 64.5% in the 4th quarter. IFP Advisors Inc now owns 454 shares of the company's stock valued at $46,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Trading Up 0.9%

Shares of Veralto stock traded up $0.92 during mid-day trading on Friday, hitting $103.75. 478,650 shares of the stock were exchanged, compared to its average volume of 1,411,486. Veralto Corporation has a twelve month low of $83.87 and a twelve month high of $115.00. The stock has a market capitalization of $25.72 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 4.16 and a beta of 0.91. The company has a 50-day simple moving average of $99.20 and a 200 day simple moving average of $98.48. 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 (NYSE:VLTO - Get Free Report) last released its quarterly earnings results 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. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the company earned $0.84 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.11 per share. The ex-dividend date 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%.

Insiders Place Their Bets

In related 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $99.96, for a total transaction of $249,900.00. Following the completion of the sale, the senior vice president directly owned 32,430 shares in the company, valued at $3,241,702.80. This represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,913 shares of company stock valued at $4,339,370. 0.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have 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 company 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 issued a "buy" rating and a $110.00 price target for the company. Stifel Nicolaus raised their target price on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Robert W. Baird raised their target price on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Citigroup dropped their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $110.09.

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.