Baker Chad R Has $8.57 Million Position in Veralto Co. (NYSE:VLTO)

Baker Chad R lifted its stake in Veralto Co. (NYSE:VLTO) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,902 shares of the company’s stock after purchasing an additional 885 shares during the period. Veralto accounts for 1.7% of Baker Chad R’s portfolio, making the stock its 25th largest position. Baker Chad R’s holdings in Veralto were worth $8,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $26,000. BankPlus Trust Department acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. acquired a new stake in Veralto during the 4th quarter worth $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Veralto during the 4th quarter worth $44,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Trading Up 0.5%

VLTO opened at $98.67 on Friday. The stock has a market capitalization of $24.46 billion, a P/E ratio of 29.54, a P/E/G ratio of 4.24 and a beta of 0.97. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00. The firm’s fifty day simple moving average is $95.88 and its 200 day simple moving average is $99.20. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

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. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. As a group, research analysts anticipate that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto’s dividend payout ratio is currently 12.57%.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 31,689 shares of the business’s stock in a transaction on 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 sale, the senior vice president now directly owns 17,434 shares of the company’s stock, valued at approximately $1,633,042.78. The trade was a 64.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,418 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the sale, the chief executive officer now directly owns 106,219 shares in the company, valued at $10,090,805. This trade 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 have sold 56,917 shares of company stock valued at $5,423,033. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VLTO has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Citigroup lowered 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. Royal Bank of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. Finally, Northcoast Research started coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently 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.