Retirement Systems of Alabama Sells 401 Shares of Veralto Corporation (NYSE:VLTO)

Retirement Systems of Alabama cut its position in Veralto Corporation (NYSE:VLTO) by 0.7% in the first quarter, HoldingsChannel.com reports. The firm owned 53,144 shares of the company’s stock after selling 401 shares during the period. Retirement Systems of Alabama’s holdings in Veralto were worth $5,179,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 valued at $2,989,011,000 after acquiring an additional 146,234 shares in the last quarter. Amundi increased its holdings in shares of Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after acquiring an additional 158,342 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Veralto by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock valued at $670,781,000 after acquiring an additional 733,056 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Veralto by 1.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock valued at $485,304,000 after acquiring an additional 54,795 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Veralto by 9.7% during the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company’s stock valued at $462,538,000 after acquiring an additional 401,228 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 31,689 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the sale, the senior vice president now owns 17,434 shares of the company’s stock, valued at approximately $1,633,042.78. This represents a 64.51% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 stock was sold at an average price of $97.05, for a total transaction of $57,259.50. Following the transaction, the senior vice president now directly owns 10,011 shares in the company, valued at $971,567.55. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,503 shares of company stock valued at $4,396,629. 0.36% of the stock is owned by insiders.

Veralto Trading Up 1.9%

Veralto stock opened at $100.34 on Wednesday. Veralto Corporation has a 12 month low of $83.87 and a 12 month high of $115.00. The firm has a market cap of $24.87 billion, a PE ratio of 28.67, a P/E/G ratio of 4.23 and a beta of 0.97. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The stock’s 50 day simple moving average is $97.26 and its two-hundred day simple moving average is $98.61.

Veralto (NYSE:VLTO) last posted 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 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 the consensus estimate of $1.28 billion. During the same period in the prior year, the company earned $0.84 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

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 paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, June 30th. Veralto’s dividend payout ratio is currently 12.57%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upped 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. Robert W. Baird upped their target price on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Royal Bank Of Canada upped their target price on 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 began coverage on Veralto in a research report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Citigroup dropped their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.