Weil Company Inc. Acquires 12,532 Shares of Veralto Corporation (NYSE:VLTO)

Weil Company Inc. lifted its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 357.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,039 shares of the company's stock after acquiring an additional 12,532 shares during the quarter. Weil Company Inc.'s holdings in Veralto were worth $1,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Veralto by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock worth $2,989,011,000 after buying an additional 146,234 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $670,781,000 after purchasing an additional 733,056 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Veralto by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock worth $485,304,000 after purchasing an additional 54,795 shares in the last quarter. Invesco Ltd. lifted its position in shares of Veralto by 9.7% in the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock worth $462,538,000 after purchasing an additional 401,228 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Veralto by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock worth $415,074,000 after purchasing an additional 509,104 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Insider Buying and Selling at Veralto

In related news, 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 value of $989,710.00. Following the completion of the transaction, the chief executive officer owned 106,219 shares in the company, valued at $10,090,805. This trade represents a 8.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the completion of the sale, the senior vice president directly owned 17,434 shares in the company, valued at approximately $1,633,042.78. This represents a 64.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,913 shares of company stock worth $4,339,370 over the last three months. 0.36% of the stock is owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO traded down $1.24 during mid-day trading on Friday, hitting $101.89. 734,595 shares of the company's stock were exchanged, compared to its average volume of 1,402,686. Veralto Corporation has a 52 week low of $83.87 and a 52 week high of $115.00. The stock's 50-day simple moving average is $99.91 and its 200-day simple moving average is $98.49. The firm has a market cap of $25.25 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 4.13 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 earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share 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 firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The company's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend on an annualized basis and a yield of 0.43%. Veralto's dividend payout ratio is currently 12.57%.

Analyst Upgrades and Downgrades

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

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.