First National Trust Co Takes $931,000 Position in Veralto Co. (NYSE:VLTO)

First National Trust Co acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,314 shares of the company’s stock, valued at approximately $931,000.

Several other large investors have also bought and sold shares of VLTO. Impax Asset Management Group plc bought a new position in shares of Veralto in the 4th quarter valued at $347,827,000. Fisher Asset Management LLC bought a new position in Veralto in the fourth quarter valued at about $93,845,000. abrdn plc acquired a new stake in shares of Veralto during the fourth quarter valued at about $80,959,000. Vontobel Holding Ltd. acquired a new position in shares of Veralto in the fourth quarter valued at approximately $60,495,000. Finally, Swiss National Bank bought a new position in Veralto in the 4th quarter valued at approximately $60,187,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on VLTO. Stifel Nicolaus upped their price target on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Argus initiated coverage on shares of Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets boosted their target price on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.18.

Veralto Price Performance

Veralto stock traded up $2.04 during mid-day trading on Friday, reaching $95.89. 940,032 shares of the company’s stock were exchanged, compared to its average volume of 1,920,957. The business’s fifty day simple moving average is $89.39 and its 200 day simple moving average is $81.12. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto Co. has a one year low of $65.51 and a one year high of $96.13.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%.

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.