Veralto Corporation (NYSE:VLTO) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lessened its holdings in Veralto Corporation (NYSE:VLTO) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,647 shares of the company’s stock after selling 297 shares during the period. Whittier Trust Co.’s holdings in Veralto were worth $648,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in Veralto during the fourth quarter worth approximately $25,000. Lee Danner & Bass Inc. bought a new stake in Veralto in the 4th quarter valued at about $43,000. Murphy & Mullick Capital Management Corp acquired a new position in Veralto during the 4th quarter valued at about $44,000. Opal Wealth Advisors LLC acquired a new position in shares of Veralto in the 1st quarter worth approximately $45,000. Finally, Grove Bank & Trust increased its position in shares of Veralto by 198.2% in the first quarter. Grove Bank & Trust now owns 510 shares of the company’s stock worth $50,000 after acquiring an additional 339 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VLTO. Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Royal Bank Of Canada upped their target price on shares of Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their target price on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Northcoast Research started coverage on Veralto in a report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Citigroup reduced their price objective on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.09.

Veralto Stock Up 2.5%

Shares of NYSE VLTO opened at $102.99 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $25.53 billion, a PE ratio of 29.43, a P/E/G ratio of 4.03 and a beta of 0.91. The firm has a fifty day moving average of $100.48 and a 200-day moving average of $98.44. Veralto Corporation has a 52-week low of $83.87 and a 52-week high of $115.00.

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

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto’s dividend payout ratio (DPR) is currently 12.57%.

Insider Activity

In related news, SVP Lesley Beneteau sold 458 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president directly owned 13,571 shares in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,418 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the sale, the chief executive officer directly owned 106,219 shares of the company’s stock, valued at $10,090,805. This represents a 8.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,913 shares of company stock valued at $4,339,370. Corporate insiders own 0.36% of the company’s stock.

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.