Veralto Corporation (NYSE:VLTO) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Veralto Corporation (NYSE:VLTO) by 9.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 26,833 shares of the company’s stock after acquiring an additional 2,313 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Veralto were worth $2,619,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Veralto by 8.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,883 shares of the company’s stock valued at $3,062,000 after acquiring an additional 2,572 shares during the last quarter. Lafayette Investments Inc. raised its holdings in Veralto by 27.9% in the 1st quarter. Lafayette Investments Inc. now owns 3,940 shares of the company’s stock valued at $384,000 after acquiring an additional 859 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Veralto by 0.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 83,642 shares of the company’s stock worth $8,151,000 after buying an additional 575 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of Veralto by 13.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 4,976 shares of the company’s stock worth $485,000 after buying an additional 601 shares during the last quarter. Finally, Perpetual Ltd increased its holdings in shares of Veralto by 12.4% during the 1st quarter. Perpetual Ltd now owns 118,229 shares of the company’s stock worth $11,521,000 after buying an additional 12,997 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Up 0.9%

Shares of Veralto stock opened at $103.75 on Monday. The company has a fifty day moving average price of $99.20 and a 200 day moving average price of $98.44. 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 Corporation has a twelve month low of $83.87 and a twelve month high of $115.00. The stock has a market cap of $25.72 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 4.16 and a beta of 0.91.

Veralto (NYSE:VLTO) last posted 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. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. Equities research analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.42%. Veralto’s payout ratio is currently 12.57%.

Insider Buying and Selling

In other news, SVP Lesley Beneteau sold 458 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the transaction, the senior vice president owned 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,418 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at $10,090,805. The trade was a 8.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,913 shares of company stock worth $4,339,370 over the last quarter. Company insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VLTO shares. Stifel Nicolaus upped 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 set a “buy” rating and a $110.00 price objective for the company. Robert W. Baird upped 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. Citigroup dropped 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. Finally, Royal Bank Of Canada upped 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $110.09.

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.