Empirical Finance LLC Has $754,000 Holdings in Veralto Corporation (NYSE:VLTO)

Empirical Finance LLC grew its holdings in shares of Veralto Corporation (NYSE:VLTO) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,740 shares of the company’s stock after acquiring an additional 278 shares during the quarter. Empirical Finance LLC’s holdings in Veralto were worth $754,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its stake in Veralto by 1.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company’s stock worth $652,000 after acquiring an additional 110 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Veralto by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company’s stock worth $856,000 after acquiring an additional 113 shares in the last quarter. Phoenix Financial Ltd. raised its stake in Veralto by 2.9% during the first quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company’s stock worth $454,000 after acquiring an additional 132 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Veralto by 3.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,999 shares of the company’s stock worth $407,000 after acquiring an additional 148 shares in the last quarter. Finally, Figure 8 Investment Strategies LLC raised its stake in Veralto by 1.1% during the first quarter. Figure 8 Investment Strategies LLC now owns 14,349 shares of the company’s stock worth $1,398,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on VLTO. Northcoast Research began coverage on Veralto in a research note on Tuesday, May 6th. They set a “buy” rating and a $110.00 target price for the company. Robert W. Baird upped their price objective on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Citigroup lowered their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Stifel Nicolaus upped their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada upped their price objective on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Veralto presently has a consensus rating of “Hold” and an average price target of $111.18.

Insider Activity

In other Veralto news, SVP Melissa Aquino sold 31,689 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the transaction, the senior vice president directly owned 17,434 shares in the company, valued at approximately $1,633,042.78. This represents a 64.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $46,184.72. Following the transaction, the senior vice president owned 13,571 shares in the company, valued at $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,913 shares of company stock worth $4,339,370. Company insiders own 0.36% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $103.38 on Monday. The company has a market capitalization of $25.62 billion, a PE ratio of 29.54, a P/E/G ratio of 4.13 and a beta of 0.91. The company has a 50 day simple moving average of $100.81 and a two-hundred day simple moving average of $98.45. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. Veralto Corporation has a fifty-two week low of $83.86 and a fifty-two week high of $115.00.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Veralto’s payout ratio is 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.