Phoenix Financial Ltd. Has $454,000 Stake in Veralto Corporation (NYSE:VLTO)

Phoenix Financial Ltd. lifted its position in shares of Veralto Corporation (NYSE:VLTO) by 2.9% during the first quarter, Holdings Channel.com reports. The firm owned 4,644 shares of the company’s stock after buying an additional 132 shares during the quarter. Phoenix Financial Ltd.’s holdings in Veralto were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in Veralto during the 4th quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of Veralto in the 1st quarter valued at $45,000. Grove Bank & Trust increased its stake in shares of Veralto by 198.2% in the 1st 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 last quarter. Global Financial Private Client LLC increased its stake in shares of Veralto by 95.1% in the 1st 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 position in shares of Veralto in the 4th quarter valued at $60,000. Institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VLTO shares. Royal Bank Of Canada lifted their price target on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Northcoast Research started 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. Citigroup decreased their price target on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus raised their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Robert W. Baird raised their price objective on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. 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 currently has a consensus rating of “Hold” and an average price target of $111.18.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 848 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was 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 approximately $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Melissa Aquino sold 31,689 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 17,434 shares in the company, valued at approximately $1,633,042.78. The trade was a 64.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,913 shares of company stock valued at $4,339,370 in the last quarter. 0.36% of the stock is currently owned by company insiders.

Veralto Stock Performance

Shares of VLTO opened at $103.38 on Friday. 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 stock has a 50 day moving average price of $100.81 and a two-hundred day moving average price of $98.48. The firm has a market capitalization of $25.62 billion, a P/E ratio of 29.54, a P/E/G ratio of 4.13 and a beta of 0.91. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

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

Veralto Dividend Announcement

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

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.