Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Veralto Corporation (NYSE:VLTO)

Mirae Asset Global Investments Co. Ltd. raised its stake in Veralto Corporation (NYSE:VLTO) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,883 shares of the company’s stock after purchasing an additional 2,572 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Veralto were worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in 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 during the last quarter. Amundi boosted its position in shares of Veralto by 2.3% in the 4th quarter. Amundi now owns 7,169,702 shares of the company’s stock worth $731,084,000 after purchasing an additional 158,342 shares in the last quarter. Geode Capital Management LLC grew its stake in Veralto by 12.5% during 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 increased its position in Veralto by 1.2% during 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 in the last quarter. Finally, Invesco Ltd. raised its position in shares of Veralto by 9.7% in the 4th quarter. Invesco Ltd. now owns 4,541,367 shares of the company’s stock valued at $462,538,000 after purchasing an additional 401,228 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Up 0.2%

VLTO opened at $102.85 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. Veralto Corporation has a 1 year low of $83.87 and a 1 year high of $115.00. The firm has a 50 day moving average price of $98.73 and a 200 day moving average price of $98.48. The company has a market cap of $25.49 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 4.11 and a beta of 0.91.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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 net margin of 16.56% and a return on equity of 45.63%. The business’s 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 earnings per share. Sell-side analysts expect that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Veralto’s dividend payout ratio is currently 12.57%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Mattias Bystrom sold 2,500 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $99.96, for a total value of $249,900.00. Following the transaction, the senior vice president owned 32,430 shares of the company’s stock, valued at approximately $3,241,702.80. This represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the completion of the transaction, the senior vice president directly owned 8,433 shares in the company, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,913 shares of company stock valued at $4,339,370. 0.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on VLTO shares. Stifel Nicolaus increased their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Royal Bank Of Canada boosted their target price on shares of Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Robert W. Baird increased their price target on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Northcoast Research started 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 for the company 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $110.09.

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.