Veralto Corporation $VLTO Stock Holdings Lowered by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its holdings in Veralto Corporation (NYSE:VLTO) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 3,691 shares of the company’s stock after selling 306 shares during the period. First Citizens Bank & Trust Co.’s holdings in Veralto were worth $373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Veralto by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company’s stock worth $2,897,916,000 after purchasing an additional 390,285 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Veralto by 8.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company’s stock worth $1,027,264,000 after purchasing an additional 811,843 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Veralto by 28.0% in the 1st quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company’s stock worth $607,656,000 after purchasing an additional 1,363,502 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Veralto by 6.9% in the 1st quarter. Invesco Ltd. now owns 4,856,071 shares of the company’s stock worth $473,224,000 after purchasing an additional 314,704 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Veralto by 13.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company’s stock worth $415,074,000 after purchasing an additional 509,104 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at approximately $11,286,830.94. This trade represents a 9.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.36% of the company’s stock.

Veralto Stock Down 0.1%

Veralto stock opened at $104.72 on Monday. The firm has a market cap of $25.99 billion, a PE ratio of 29.25, a P/E/G ratio of 3.45 and a beta of 0.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. The firm’s 50 day moving average price is $105.67 and its two-hundred day moving average price is $101.74. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $110.11.

Veralto (NYSE:VLTO) last posted its earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, research analysts predict that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. Veralto’s dividend payout ratio (DPR) is presently 12.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Veralto from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Royal Bank Of Canada boosted their price target on shares of Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Barclays cut their price target on shares of Veralto from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. Finally, Raymond James Financial assumed coverage on shares of Veralto in a report on Tuesday, August 26th. They set a “market perform” rating on the stock. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.43.

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.