Country Trust Bank Boosts Stock Position in Veralto Co. (NYSE:VLTO)

Country Trust Bank lifted its position in Veralto Co. (NYSE:VLTO) by 866.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 483 shares of the company’s stock after purchasing an additional 433 shares during the quarter. Country Trust Bank’s holdings in Veralto were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Axiom Advisory LLC lifted its position in Veralto by 2.9% during the third quarter. Axiom Advisory LLC now owns 6,336 shares of the company’s stock valued at $670,000 after purchasing an additional 179 shares during the period. Mather Group LLC. boosted its holdings in Veralto by 55.8% in the third quarter. Mather Group LLC. now owns 888 shares of the company’s stock valued at $99,000 after purchasing an additional 318 shares during the last quarter. Value Partners Investments Inc. boosted its holdings in Veralto by 68.1% in the third quarter. Value Partners Investments Inc. now owns 2,736 shares of the company’s stock valued at $306,000 after purchasing an additional 1,108 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Veralto by 26.2% in the third quarter. GAMMA Investing LLC now owns 3,953 shares of the company’s stock valued at $442,000 after purchasing an additional 820 shares during the last quarter. Finally, Czech National Bank boosted its holdings in Veralto by 20.2% in the third quarter. Czech National Bank now owns 50,338 shares of the company’s stock valued at $5,631,000 after purchasing an additional 8,474 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Up 1.0 %

VLTO stock opened at $112.18 on Wednesday. The company has a market cap of $27.69 billion and a price-to-earnings ratio of 33.63. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The firm has a 50-day moving average of $109.33 and a two-hundred day moving average of $100.64.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, analysts forecast that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. TD Cowen upped their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $105.67.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,039 shares of company stock worth $4,310,335. 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.