Veralto Corporation (NYSE:VLTO) Shares Bought by Grove Bank & Trust

Grove Bank & Trust lifted its stake in shares of Veralto Corporation (NYSE:VLTO) by 198.2% during the first quarter, HoldingsChannel.com reports. The firm owned 510 shares of the company’s stock after purchasing an additional 339 shares during the period. Grove Bank & Trust’s holdings in Veralto were worth $50,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VLTO. Park Avenue Securities LLC boosted its holdings in Veralto by 11.5% during the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company’s stock worth $1,872,000 after buying an additional 1,985 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its stake in shares of Veralto by 15.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company’s stock worth $2,570,000 after acquiring an additional 3,392 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Veralto by 4.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company’s stock worth $302,000 after acquiring an additional 117 shares during the period. Daiwa Securities Group Inc. increased its stake in Veralto by 12.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 100,376 shares of the company’s stock valued at $10,223,000 after purchasing an additional 11,026 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in Veralto by 26.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,339 shares of the company’s stock worth $544,000 after purchasing an additional 1,101 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Lesley Beneteau sold 458 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president now directly owns 13,571 shares in the company, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 848 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the transaction, the senior vice president now directly owns 8,433 shares in the company, valued at approximately $847,938.15. This represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,917 shares of company stock valued at $5,423,033 over the last quarter. Company insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on VLTO shares. 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. Northcoast Research initiated coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price objective on the stock. Royal Bank Of Canada increased their price objective on shares of Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $110.09.

Veralto Price Performance

NYSE:VLTO opened at $96.94 on Thursday. Veralto Corporation has a 12-month low of $83.87 and a 12-month high of $115.00. The firm has a market cap of $24.03 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97. The company’s 50-day moving average is $96.60 and its two-hundred day moving average is $98.90. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, June 30th. Veralto’s dividend payout ratio (DPR) is 12.57%.

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.