iA Global Asset Management Inc. Sells 3,282 Shares of Veralto Co. (NYSE:VLTO)

iA Global Asset Management Inc. reduced its holdings in Veralto Co. (NYSE:VLTO) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 107,163 shares of the company’s stock after selling 3,282 shares during the quarter. iA Global Asset Management Inc.’s holdings in Veralto were worth $9,501,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VLTO. SG Americas Securities LLC bought a new stake in shares of Veralto during the fourth quarter valued at approximately $729,000. Pacer Advisors Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $1,362,000. Assenagon Asset Management S.A. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $965,000. Blue Trust Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $26,000. Finally, Global Retirement Partners LLC boosted its position in shares of Veralto by 63.6% during the fourth quarter. Global Retirement Partners LLC now owns 3,843 shares of the company’s stock valued at $316,000 after buying an additional 1,494 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VLTO has been the topic of several research analyst reports. TD Cowen boosted their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank of Canada boosted their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday. Citigroup boosted their target price on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. BMO Capital Markets boosted their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird boosted their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Veralto currently has an average rating of “Moderate Buy” and an average price target of $103.33.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Honeycutt 13,191 shares of Veralto stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO traded up $0.14 during midday trading on Thursday, reaching $106.70. 1,530,711 shares of the company traded hands, compared to its average volume of 1,586,268. The company has a quick ratio of 1.56, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $107.86. The firm has a market capitalization of $26.37 billion and a price-to-earnings ratio of 32.34. The firm’s fifty day moving average price is $99.39 and its two-hundred day moving average price is $91.72.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. On average, equities analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%.

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.