Woodmont Investment Counsel LLC Sells 117 Shares of Veralto Co. (NYSE:VLTO)

Woodmont Investment Counsel LLC lessened its holdings in Veralto Co. (NYSE:VLTO) by 3.5% during the first quarter, HoldingsChannel.com reports. The fund owned 3,181 shares of the company’s stock after selling 117 shares during the period. Woodmont Investment Counsel LLC’s holdings in Veralto were worth $282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. bought a new stake in shares of Veralto during the fourth quarter worth about $2,127,330,000. Capital International Investors bought a new stake in shares of Veralto during the fourth quarter worth about $538,324,000. Brown Advisory Inc. bought a new stake in shares of Veralto during the fourth quarter worth about $528,018,000. Impax Asset Management Group plc bought a new stake in shares of Veralto during the fourth quarter worth about $347,827,000. Finally, Norges Bank bought a new stake in shares of Veralto during the fourth quarter worth about $266,143,000. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of the 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 completion of the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 completion of the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VLTO. The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets lifted their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Citigroup lifted their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Robert W. Baird lifted their price objective on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Veralto Stock Down 1.2 %

Shares of NYSE:VLTO opened at $94.35 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $102.58. The stock’s 50 day moving average is $98.18 and its 200-day moving average is $88.94.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, June 28th.

Veralto Company 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.