Vest Financial LLC bought a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,824 shares of the company's stock, valued at approximately $1,639,000.
Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Veralto by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company's stock valued at $273,906,000 after acquiring an additional 314,412 shares in the last quarter. Brighton Jones LLC increased its stake in Veralto by 16.1% during the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock valued at $352,000 after purchasing an additional 479 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Veralto by 3.8% during the 4th quarter. DAVENPORT & Co LLC now owns 4,306 shares of the company's stock valued at $439,000 after purchasing an additional 157 shares in the last quarter. Mather Group LLC. raised its holdings in Veralto by 22.3% during the fourth quarter. Mather Group LLC. now owns 1,086 shares of the company's stock worth $111,000 after buying an additional 198 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Veralto by 25.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,311 shares of the company's stock valued at $3,014,000 after buying an additional 5,909 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
Veralto Price Performance
NYSE VLTO traded down $0.60 during trading hours on Monday, hitting $99.67. The company had a trading volume of 693,311 shares, compared to its average volume of 1,445,552. The firm has a 50 day simple moving average of $95.32 and a 200 day simple moving average of $99.32. Veralto Co. has a 52 week low of $83.87 and a 52 week high of $115.00. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 4.24 and a beta of 0.97. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.
Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. Veralto's revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.
Veralto Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Veralto's payout ratio is currently 12.57%.
Analyst Upgrades and Downgrades
VLTO has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective on the stock. Citigroup reduced their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada lifted their price objective on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Finally, Robert W. Baird boosted their price objective on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $110.09.
Get Our Latest Analysis on Veralto
Insider Buying and Selling at Veralto
In other news, SVP Surekha Trivedi sold 590 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total value of $57,259.50. Following the completion of the sale, the senior vice president now owns 10,011 shares of the company's stock, valued at approximately $971,567.55. This represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the transaction, the chief executive officer now directly owns 116,637 shares in the company, valued at $11,495,742.72. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,917 shares of company stock worth $5,423,033 over the last three months. 0.36% of the stock is owned by insiders.
Veralto Company Profile
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Free Report)
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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