Lazard Asset Management LLC Buys 6,017 Shares of Veralto Corporation $VLTO

Lazard Asset Management LLC boosted its stake in shares of Veralto Corporation (NYSE:VLTO) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 962,989 shares of the company’s stock after purchasing an additional 6,017 shares during the period. Lazard Asset Management LLC’s holdings in Veralto were worth $85,147,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV raised its stake in shares of Veralto by 0.7% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 15,098 shares of the company’s stock worth $1,506,000 after purchasing an additional 99 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Veralto by 14.0% in the 3rd quarter. IFP Advisors Inc now owns 855 shares of the company’s stock valued at $91,000 after buying an additional 105 shares during the last quarter. Creative Capital Management Investments LLC grew its stake in shares of Veralto by 45.9% in the fourth quarter. Creative Capital Management Investments LLC now owns 340 shares of the company’s stock valued at $34,000 after buying an additional 107 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Veralto by 0.7% in the third quarter. Private Advisor Group LLC now owns 15,777 shares of the company’s stock valued at $1,682,000 after buying an additional 109 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Veralto by 18.9% during the third quarter. Larson Financial Group LLC now owns 735 shares of the company’s stock worth $78,000 after buying an additional 117 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VLTO has been the topic of several analyst reports. Robert W. Baird set a $103.00 price target on shares of Veralto in a research report on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Veralto in a research report on Wednesday, June 24th. Wolfe Research restated an “outperform” rating and set a $109.00 price objective on shares of Veralto in a research note on Thursday, July 9th. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Tuesday, March 31st. They issued a “buy” rating and a $110.00 target price on the stock. Finally, UBS Group raised their target price on shares of Veralto from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Veralto has a consensus rating of “Hold” and an average price target of $106.33.

Veralto Trading Up 2.3%

Shares of Veralto stock opened at $94.14 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.32. The business has a fifty day simple moving average of $87.81 and a two-hundred day simple moving average of $90.97. Veralto Corporation has a 1 year low of $80.03 and a 1 year high of $110.11. The company has a market capitalization of $23.12 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 2.59 and a beta of 0.63.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.02 by $0.05. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Veralto had a net margin of 17.33% and a return on equity of 34.63%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. Research analysts forecast that Veralto Corporation will post 4.24 EPS for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.6%. Veralto’s payout ratio is presently 13.44%.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.