Sei Investments Co. raised its holdings in Veralto Corporation (NYSE:VLTO – Free Report) by 37.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,325 shares of the company’s stock after buying an additional 107,123 shares during the quarter. Sei Investments Co. owned approximately 0.16% of Veralto worth $34,868,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of VLTO. Robeco Institutional Asset Management B.V. grew its stake in shares of Veralto by 3.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,199,220 shares of the company’s stock valued at $119,658,000 after buying an additional 39,803 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Veralto by 30.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,602 shares of the company’s stock worth $6,147,000 after buying an additional 14,219 shares during the last quarter. Rathbones Group PLC raised its position in shares of Veralto by 205.9% in the 4th quarter. Rathbones Group PLC now owns 174,223 shares of the company’s stock worth $17,384,000 after buying an additional 117,272 shares during the period. Arbejdsmarkedets Tillaegspension boosted its holdings in Veralto by 23.4% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 291,695 shares of the company’s stock valued at $25,792,000 after acquiring an additional 55,348 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in Veralto by 10.5% in the fourth quarter. Perpetual Ltd now owns 132,532 shares of the company’s stock valued at $13,224,000 after acquiring an additional 12,625 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on VLTO. Jefferies Financial Group initiated coverage on Veralto in a research note on Tuesday, March 31st. They set a “buy” rating and a $110.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Veralto in a research note on Wednesday, June 24th. UBS Group boosted their target price on Veralto from $99.00 to $101.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Stifel Nicolaus increased their target price on shares of Veralto from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of Veralto from $99.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.33.
Veralto Stock Up 2.3%
Shares of NYSE:VLTO opened at $94.14 on Tuesday. The company has a 50 day moving average of $87.81 and a two-hundred day moving average of $90.97. The company has a market capitalization of $23.12 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. Veralto Corporation has a 52-week low of $80.03 and a 52-week high of $110.11. The company has a quick ratio of 1.32, a current ratio of 1.48 and a debt-to-equity ratio of 0.65.
Veralto (NYSE:VLTO – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. Veralto had a net margin of 17.33% and a return on equity of 34.63%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, analysts forecast that Veralto Corporation will post 4.24 earnings per share for the current fiscal year.
Veralto Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.6%. Veralto’s dividend payout ratio is currently 13.44%.
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. This segment provides water solutions, including chemical reagents, services, and digital solutions.
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