First American Bank Sells 9,264 Shares of Veralto Corporation (NYSE:VLTO)

First American Bank trimmed its holdings in shares of Veralto Corporation (NYSE:VLTO) by 39.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,158 shares of the company’s stock after selling 9,264 shares during the period. First American Bank’s holdings in Veralto were worth $1,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in shares of Veralto during the fourth quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in shares of Veralto during the fourth quarter worth approximately $26,000. BankPlus Trust Department bought a new stake in shares of Veralto during the fourth quarter worth approximately $29,000. Lee Danner & Bass Inc. bought a new stake in shares of Veralto during the fourth quarter worth approximately $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Veralto during the fourth quarter worth approximately $44,000. 91.28% of the stock is owned by institutional investors.

Insider Transactions at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president now owns 13,571 shares in the company, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 116,637 shares of the company’s stock, valued at $11,495,742.72. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,917 shares of company stock valued at $5,423,033 over the last quarter. Corporate insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VLTO shares. Citigroup dropped their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Stifel Nicolaus upped their target price on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Northcoast Research started coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price for the company. Robert W. Baird upped their target price on shares of Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada upped their target price 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. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $110.09.

Veralto Stock Down 0.3%

Shares of VLTO stock opened at $96.74 on Friday. The firm has a fifty day moving average of $96.90 and a 200-day moving average of $98.76. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. Veralto Corporation has a 12-month low of $83.87 and a 12-month high of $115.00. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 4.17 and a beta of 0.97.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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 net margin of 16.56% and a return on equity of 45.63%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given 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 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.