Veralto Co. (NYSE:VLTO) Stake Lowered by Sunbelt Securities Inc.

Sunbelt Securities Inc. trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 13.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,096 shares of the company’s stock after selling 164 shares during the quarter. Sunbelt Securities Inc.’s holdings in Veralto were worth $97,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC acquired a new stake in shares of Veralto during the 4th quarter valued at about $3,202,000. Factory Mutual Insurance Co. bought a new stake in Veralto in the fourth quarter worth approximately $9,260,000. State of Michigan Retirement System bought a new stake in Veralto in the fourth quarter worth approximately $4,940,000. Dimensional Fund Advisors LP acquired a new position in shares of Veralto during the 4th quarter worth $79,075,000. Finally, Wells Fargo & Company MN bought a new position in shares of Veralto during the 4th quarter valued at $25,633,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird increased their target price on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. TD Cowen initiated coverage on Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 price objective on the stock. BMO Capital Markets increased their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Citigroup boosted their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Veralto Stock Down 2.1 %

Shares of VLTO opened at $95.47 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The company has a 50-day simple moving average of $98.09 and a 200-day simple moving average of $88.64. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58. The firm has a market capitalization of $23.57 billion and a P/E ratio of 26.37.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities research analysts expect that Veralto Co. will post 3.37 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Friday, June 28th. Veralto’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In related news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.