First United Bank & Trust Reduces Holdings in Veralto Co. (NYSE:VLTO)

First United Bank & Trust reduced its stake in Veralto Co. (NYSE:VLTO) by 37.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 679 shares of the company’s stock after selling 414 shares during the period. First United Bank & Trust’s holdings in Veralto were worth $69,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Veralto in the third quarter worth $25,000. Goodman Advisory Group LLC purchased a new position in Veralto in the 2nd quarter worth $26,000. Fairscale Capital LLC acquired a new stake in Veralto during the 2nd quarter worth about $30,000. Raleigh Capital Management Inc. grew its stake in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Veralto in the third quarter valued at about $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Down 1.0 %

VLTO stock opened at $102.98 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a 50-day moving average of $104.07 and a two-hundred day moving average of $105.91. The company has a market cap of $25.47 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 4.00 and a beta of 1.06. Veralto Co. has a 12 month low of $75.03 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. Veralto’s payout ratio is 13.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup dropped their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus dropped their price objective on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. BMO Capital Markets increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada upped their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.27.

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.