Central Pacific Bank Trust Division Has $965,000 Stake in Veralto Co. (NYSE:VLTO)

Central Pacific Bank Trust Division decreased its stake in Veralto Co. (NYSE:VLTO) by 1.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,902 shares of the company’s stock after selling 144 shares during the period. Central Pacific Bank Trust Division’s holdings in Veralto were worth $965,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of VLTO. Bernard Wealth Management Corp. acquired a new position in Veralto in the fourth quarter worth $25,000. OFI Invest Asset Management acquired a new position in Veralto in the fourth quarter worth $26,000. BankPlus Trust Department acquired a new position in Veralto in the fourth quarter worth $29,000. Geneos Wealth Management Inc. acquired a new position in Veralto in the fourth quarter worth $42,000. Finally, Lee Danner & Bass Inc. acquired a new position in Veralto in the fourth quarter worth $43,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Down 0.3%

Shares of Veralto stock opened at $100.92 on Friday. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00. The business has a 50-day moving average of $95.07 and a two-hundred day moving average of $99.53. The company has a market capitalization of $25.01 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Veralto’s dividend payout ratio (DPR) is currently 12.57%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VLTO shares. Northcoast Research started coverage on Veralto in a research note on Tuesday, May 6th. They set a “buy” rating and a $110.00 price target on the stock. Royal Bank of Canada raised their target price on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Robert W. Baird boosted their target price on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Citigroup lowered their price target on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus upped their price target on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.09.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the completion of the transaction, the chief executive officer now directly owns 116,637 shares in the company, valued at approximately $11,495,742.72. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president now owns 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,069 shares of company stock worth $5,337,767 over the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

Veralto 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.