Wellington Management Group LLP Buys 39,342 Shares of Veralto Co. (NYSE:VLTO)

Wellington Management Group LLP grew its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 563,102 shares of the company's stock after purchasing an additional 39,342 shares during the quarter. Wellington Management Group LLP owned approximately 0.23% of Veralto worth $57,352,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VLTO. Barclays PLC increased its position in shares of Veralto by 43.8% during the 3rd quarter. Barclays PLC now owns 729,081 shares of the company's stock valued at $81,556,000 after purchasing an additional 222,076 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Veralto by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company's stock valued at $273,906,000 after purchasing an additional 314,412 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Veralto by 7.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,535 shares of the company's stock valued at $5,656,000 after purchasing an additional 4,060 shares during the last quarter. Brighton Jones LLC increased its position in shares of 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 during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Veralto during the 4th quarter valued at $42,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VLTO shares. Citigroup decreased their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Robert W. Baird lifted their price objective on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Northcoast Research started coverage on Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Veralto presently has a consensus rating of "Hold" and an average price target of $110.09.

Veralto Price Performance

VLTO stock traded down $0.32 during mid-day trading on Friday, reaching $100.92. 3,079,272 shares of the company traded hands, compared to its average volume of 1,453,858. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The company has a market capitalization of $25.01 billion, a P/E ratio of 30.22, a P/E/G ratio of 4.24 and a beta of 0.99. Veralto Co. has a 52-week low of $83.87 and a 52-week high of $115.00. The company has a fifty day moving average price of $95.07 and a 200-day moving average price of $99.49.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results 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. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. As a group, analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm 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 is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. Veralto's dividend payout ratio (DPR) is presently 12.57%.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the completion of the sale, the chief executive officer now owns 116,637 shares in the company, valued at approximately $11,495,742.72. This trade represents a 8.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total value of $57,259.50. Following the sale, the senior vice president now owns 10,011 shares of the company's stock, valued at approximately $971,567.55. This trade represents a 5.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,069 shares of company stock worth $5,337,767. 0.36% of the stock is currently owned by insiders.

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.