Boyd Watterson Asset Management LLC OH Cuts Stock Holdings in Veralto Co. (NYSE:VLTO)

Boyd Watterson Asset Management LLC OH trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 67.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 413 shares of the company’s stock after selling 837 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Veralto were worth $34,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fishman Jay A Ltd. MI raised its stake in shares of Veralto by 6.0% during the fourth quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock valued at $343,000 after acquiring an additional 238 shares during the last quarter. Sugarloaf Wealth Management LLC bought a new position in shares of Veralto during the fourth quarter valued at about $25,000. Blue Trust Inc. bought a new position in shares of Veralto during the fourth quarter valued at about $26,000. First Command Advisory Services Inc. bought a new position in Veralto in the fourth quarter worth about $25,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Veralto in the fourth quarter worth about $27,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Performance

Shares of NYSE:VLTO traded up $0.33 during trading on Friday, reaching $94.12. 1,151,386 shares of the stock traded hands, compared to its average volume of 1,946,553. The stock has a 50-day moving average of $88.53 and a two-hundred day moving average of $80.36. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $95.40. The company has a current ratio of 1.83, a quick ratio of 1.40 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Veralto Co. will post 3.3 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target for the company. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. BNP Paribas began coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target for the company. Robert W. Baird raised their target price on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Argus began coverage on shares of Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.18.

Insider Buying and Selling

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

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.