Raymond James Trust N.A. Lowers Position in Veralto Co. (NYSE:VLTO)

Raymond James Trust N.A. decreased its position in shares of Veralto Co. (NYSE:VLTO) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 5,729 shares of the company’s stock after selling 172 shares during the period. Raymond James Trust N.A.’s holdings in Veralto were worth $641,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Otter Creek Advisors LLC grew its stake in Veralto by 57.8% in the third quarter. Otter Creek Advisors LLC now owns 36,994 shares of the company’s stock worth $4,138,000 after purchasing an additional 13,555 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Veralto by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company’s stock worth $173,351,000 after acquiring an additional 141,209 shares in the last quarter. Intech Investment Management LLC boosted its stake in Veralto by 20.2% during the third quarter. Intech Investment Management LLC now owns 263,348 shares of the company’s stock worth $29,458,000 after acquiring an additional 44,294 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Veralto by 32.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 199,370 shares of the company’s stock worth $22,302,000 after purchasing an additional 48,808 shares during the period. Finally, Cornerstone Advisors LLC increased its stake in shares of Veralto by 19.4% during the third quarter. Cornerstone Advisors LLC now owns 15,999 shares of the company’s stock valued at $1,790,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,639 shares of company stock valued at $3,175,803 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VLTO. Deutsche Bank Aktiengesellschaft lifted their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Stifel Nicolaus upped their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, UBS Group assumed coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $108.27.

Veralto Stock Up 1.9 %

VLTO stock opened at $108.48 on Tuesday. The business’s 50-day moving average is $108.08 and its two-hundred day moving average is $104.59. The company has a market cap of $26.83 billion and a price-to-earnings ratio of 33.48. Veralto Co. has a fifty-two week low of $72.85 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. Veralto’s dividend payout ratio is currently 11.11%.

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.