Mediolanum International Funds Ltd Trims Stock Holdings in Veralto Corporation (NYSE:VLTO)

Mediolanum International Funds Ltd lowered its position in shares of Veralto Corporation (NYSE:VLTO) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,004 shares of the company’s stock after selling 9,138 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Veralto were worth $11,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Veralto in the 4th quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in Veralto in the first quarter worth about $45,000. Grove Bank & Trust increased 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 in the last quarter. Global Financial Private Client LLC lifted its holdings 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 last quarter. Finally, Putney Financial Group LLC bought a new stake in shares of Veralto in the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 10,418 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total value of $989,710.00. Following the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at $10,090,805. This trade represents a 8.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president directly owned 13,571 shares of the company’s stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,913 shares of company stock worth $4,339,370. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Northcoast Research began coverage on Veralto in a research note on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price target on the stock. Robert W. Baird increased their target price on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their price target on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Royal Bank Of Canada upped their price target 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. Finally, Citigroup reduced their price objective on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $111.18.

Veralto Price Performance

NYSE VLTO opened at $103.38 on Friday. Veralto Corporation has a one year low of $83.86 and a one year high of $115.00. The stock has a 50-day moving average of $100.81 and a 200 day moving average of $98.48. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. The company has a market capitalization of $25.62 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 4.13 and a beta of 0.91.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.84 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

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

About Veralto

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.