Security National Bank of Sioux City Iowa IA Cuts Holdings in Veralto Co. (NYSE:VLTO)

Security National Bank of Sioux City Iowa IA lessened its stake in Veralto Co. (NYSE:VLTO) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,649 shares of the company’s stock after selling 541 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Veralto were worth $1,494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Security National Bank of SO Dak lifted its position in shares of Veralto by 1.7% during the 2nd quarter. Security National Bank of SO Dak now owns 20,555 shares of the company’s stock worth $1,962,000 after purchasing an additional 340 shares during the last quarter. Scientech Research LLC purchased a new stake in Veralto during the 2nd quarter worth about $1,687,000. MBB Public Markets I LLC acquired a new position in shares of Veralto during the 2nd quarter worth about $1,620,000. APG Asset Management N.V. increased its holdings in shares of Veralto by 4.7% in the 2nd quarter. APG Asset Management N.V. now owns 160,133 shares of the company’s stock valued at $14,264,000 after acquiring an additional 7,129 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Veralto by 53.8% during the 2nd quarter. AQR Capital Management LLC now owns 112,233 shares of the company’s stock worth $10,715,000 after acquiring an additional 39,256 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on VLTO shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Robert W. Baird increased their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.46.

Veralto Stock Down 0.8 %

Veralto stock opened at $110.30 on Friday. The stock has a market capitalization of $27.23 billion and a price-to-earnings ratio of 29.65. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The stock has a 50 day moving average of $107.91 and a two-hundred day moving average of $99.35. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $112.77.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. As a group, research analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. Veralto’s payout ratio is currently 9.68%.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The disclosure for this sale can be found here. Insiders sold a total of 25,096 shares of company stock worth $2,772,707 over the last 90 days. Company insiders own 0.31% of the company’s stock.

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.