Penobscot Investment Management Company Inc. Sells 269 Shares of Veralto Co. (NYSE:VLTO)

Penobscot Investment Management Company Inc. lessened its stake in shares of Veralto Co. (NYSE:VLTO) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,407 shares of the company’s stock after selling 269 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Veralto were worth $958,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Veralto during the fourth quarter valued at $44,000. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Veralto by 4.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,749 shares of the company’s stock valued at $382,000 after acquiring an additional 176 shares during the period. Segall Bryant & Hamill LLC bought a new position in Veralto during the fourth quarter valued at approximately $8,514,000. CoreFirst Bank & Trust purchased a new stake in Veralto in the fourth quarter worth approximately $88,000. Finally, Prudential Financial Inc. grew its position in Veralto by 12.2% in the 4th quarter. Prudential Financial Inc. now owns 875,050 shares of the company’s stock worth $89,124,000 after purchasing an additional 95,386 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VLTO. Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Citigroup cut their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.50.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,881 shares of company stock worth $2,176,770 over the last quarter. Insiders own 0.31% of the company’s stock.

Veralto Stock Down 0.0 %

Shares of VLTO stock opened at $97.71 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a one year low of $85.91 and a one year high of $115.00. The company’s fifty day moving average price is $99.74 and its 200-day moving average price is $104.15. The company has a market capitalization of $24.19 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

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.