Value Partners Investments Inc. Purchases 2,243 Shares of Veralto Corporation (NYSE:VLTO)

Value Partners Investments Inc. increased its position in Veralto Corporation (NYSE:VLTO) by 100.6% during the first quarter, HoldingsChannel.com reports. The firm owned 4,473 shares of the company’s stock after acquiring an additional 2,243 shares during the quarter. Value Partners Investments Inc.’s holdings in Veralto were worth $436,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in Veralto in the 4th quarter worth about $25,000. OFI Invest Asset Management bought a new position in Veralto in the 4th quarter worth about $26,000. BankPlus Trust Department bought a new position in Veralto in the 4th quarter worth about $29,000. Lee Danner & Bass Inc. bought a new position in Veralto in the 4th quarter worth about $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Veralto during the 4th quarter valued at about $44,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $100.19 on Thursday. The firm’s 50 day moving average price is $97.48 and its 200-day moving average price is $98.62. Veralto Corporation has a twelve month low of $83.87 and a twelve month high of $115.00. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $24.83 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 4.31 and a beta of 0.97.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 EPS. Equities research analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued 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 12.57%.

Insider Buying and Selling

In related news, 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 completion of the sale, the senior vice president now directly owns 8,433 shares of the company’s stock, valued at approximately $847,938.15. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,418 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the completion of the sale, the chief executive officer now directly owns 106,219 shares of the company’s stock, valued at $10,090,805. This represents a 8.93% 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 corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on VLTO. Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Northcoast Research started coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Citigroup lowered their price target on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank Of Canada lifted their price objective on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target 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.