MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Position in Veralto Co. (NYSE:VLTO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Veralto Co. (NYSE:VLTO) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,641 shares of the company’s stock after acquiring an additional 1,111 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Veralto were worth $2,510,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 purchasing an additional 146,234 shares during the last quarter. Amundi lifted its position in Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company’s stock worth $731,084,000 after buying an additional 158,342 shares during the period. Geode Capital Management LLC boosted its stake in Veralto by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock worth $670,781,000 after buying an additional 733,056 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Veralto by 1.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock valued at $485,304,000 after buying an additional 54,795 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Veralto by 9.7% during the 4th 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 during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Down 0.3%

Shares of NYSE VLTO opened at $101.91 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00. The stock’s 50-day simple moving average is $94.66 and its 200-day simple moving average is $99.66. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 4.24 and a beta of 0.99.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $0.84 EPS. Veralto’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. Veralto’s dividend payout ratio (DPR) is presently 12.57%.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. This represents a 6.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,073 shares of company stock valued at $6,442,018 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VLTO shares. Stifel Nicolaus raised their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Robert W. Baird lifted their target price on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Royal Bank of Canada lifted their price objective on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Citigroup decreased their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Northcoast Research initiated coverage on Veralto in a report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price target for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.