Invesco Ltd. Acquires 314,704 Shares of Veralto Corporation (NYSE:VLTO)

Invesco Ltd. increased its holdings in Veralto Corporation (NYSE:VLTO) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,856,071 shares of the company’s stock after purchasing an additional 314,704 shares during the period. Invesco Ltd.’s holdings in Veralto were worth $473,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Veralto during the fourth quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Veralto during the first quarter valued at $45,000. Grove Bank & Trust boosted its stake in shares of Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company’s stock valued at $50,000 after purchasing an additional 339 shares during the period. Global Financial Private Client LLC boosted its stake in shares of Veralto by 95.1% during the first quarter. Global Financial Private Client LLC now owns 593 shares of the company’s stock valued at $58,000 after purchasing an additional 289 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in shares of Veralto during the fourth quarter valued at $60,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Lesley Beneteau sold 458 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was 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 in the company, valued at $1,368,499.64. This trade represents a 3.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Surekha Trivedi sold 848 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the transaction, the senior vice president owned 8,433 shares in the company, valued at $847,938.15. This trade represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VLTO shares. Wolfe Research raised shares of Veralto from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Robert W. Baird boosted their target price on shares of Veralto from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Royal Bank Of Canada boosted their target price on shares of Veralto from $104.00 to $108.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Citigroup reduced their target price on shares of 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 assumed coverage on shares of Veralto in a report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Veralto Trading Up 0.2%

Veralto stock opened at $107.73 on Monday. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $115.00. The stock’s 50 day simple moving average is $101.78 and its two-hundred day simple moving average is $98.69. The firm has a market cap of $26.73 billion, a PE ratio of 30.09, a P/E/G ratio of 3.55 and a beta of 0.91.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Veralto had a return on equity of 41.45% and a net margin of 16.65%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts anticipate 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 was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.11 per share. The ex-dividend date was Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s dividend payout ratio (DPR) is 12.29%.

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.