Community Financial Services Group LLC Acquires 1,615 Shares of Veralto Corporation (NYSE:VLTO)

Community Financial Services Group LLC lifted its stake in Veralto Corporation (NYSE:VLTO) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,344 shares of the company’s stock after acquiring an additional 1,615 shares during the period. Community Financial Services Group LLC’s holdings in Veralto were worth $5,198,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VLTO. Bernard Wealth Management Corp. bought a new position in shares of Veralto in the fourth quarter worth $25,000. OFI Invest Asset Management bought a new position in shares of Veralto in the fourth quarter worth $26,000. BankPlus Trust Department bought a new position in shares of Veralto in the fourth quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in shares of Veralto in the fourth quarter worth $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Veralto during the fourth quarter valued at $44,000. 91.28% of the stock is owned by institutional investors.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,418 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer now owns 106,219 shares in the company, valued at $10,090,805. The trade was a 8.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total value of $57,259.50. Following the transaction, the senior vice president now owns 10,011 shares in the company, valued at approximately $971,567.55. This represents a 5.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,503 shares of company stock worth $4,396,629. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the subject of several research analyst reports. Citigroup dropped their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Northcoast Research initiated coverage on Veralto in a research note on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Robert W. Baird lifted their price objective on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price objective on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus target price of $110.09.

Veralto Trading Up 1.8%

NYSE VLTO opened at $98.45 on Tuesday. The stock’s 50-day simple moving average is $97.06 and its two-hundred day simple moving average is $98.60. Veralto Corporation has a twelve month low of $83.87 and a twelve month high of $115.00. 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 company has a market capitalization of $24.40 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 4.16 and a beta of 0.97.

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

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s dividend payout ratio is currently 12.57%.

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.