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

Lazard Asset Management LLC grew its holdings in Veralto Corporation (NYSE:VLTO) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 962,989 shares of the company’s stock after acquiring an additional 6,017 shares during the quarter. Lazard Asset Management LLC owned 0.39% of Veralto worth $85,147,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VLTO. Laurel Wealth Advisors LLC acquired a new stake in Veralto during the 4th quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Veralto by 82.2% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 286 shares of the company’s stock valued at $29,000 after buying an additional 129 shares during the period. Creative Capital Management Investments LLC increased its position in shares of Veralto by 45.9% during the fourth quarter. Creative Capital Management Investments LLC now owns 340 shares of the company’s stock worth $34,000 after acquiring an additional 107 shares in the last quarter. DV Equities LLC bought a new stake in shares of Veralto during the fourth quarter worth $35,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Veralto during the fourth quarter worth $37,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

NYSE VLTO opened at $94.14 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. Veralto Corporation has a 12-month low of $80.03 and a 12-month high of $110.11. The company has a market capitalization of $23.12 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The firm’s 50 day moving average is $87.81 and its 200-day moving average is $90.97.

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

Veralto Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on VLTO. Robert W. Baird set a $103.00 price objective on shares of Veralto in a research report on Thursday, April 30th. Jefferies Financial Group initiated coverage on Veralto in a report on Tuesday, March 31st. They set a “buy” rating and a $110.00 target price for the company. Barclays dropped their price target on Veralto from $117.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Veralto in a report on Wednesday, June 24th. Finally, Stifel Nicolaus boosted their price target on Veralto from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Veralto currently has an average rating of “Hold” and a consensus target price of $106.33.

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.