Veralto Co. (NYSE:VLTO) Stock Position Reduced by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. decreased its stake in Veralto Co. (NYSE:VLTO) by 61.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,085 shares of the company’s stock after selling 8,030 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Veralto were worth $451,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Perkins Coie Trust Co lifted its holdings in shares of Veralto by 2.7% during the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock valued at $618,000 after buying an additional 185 shares during the last quarter. Czech National Bank grew its position in Veralto by 0.5% in the first quarter. Czech National Bank now owns 38,585 shares of the company’s stock worth $3,421,000 after acquiring an additional 192 shares in the last quarter. Delta Asset Management LLC TN grew its position in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after acquiring an additional 216 shares in the last quarter. Fishman Jay A Ltd. MI increased its stake in shares of Veralto by 6.0% during the 4th quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock worth $343,000 after purchasing an additional 238 shares during the last quarter. Finally, City Holding Co. raised its holdings in shares of Veralto by 2.0% during the 1st quarter. City Holding Co. now owns 15,231 shares of the company’s stock valued at $1,350,000 after purchasing an additional 293 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Down 1.2 %

Shares of Veralto stock opened at $94.35 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm has a fifty day moving average price of $98.18 and a two-hundred day moving average price of $88.94. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $102.58.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating 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 company’s revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Veralto Co. will post 3.37 EPS for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Friday, June 28th.

Insider Activity

In related news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on 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 directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VLTO has been the topic of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Veralto in a research report on Friday, June 14th. Citigroup raised their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group began coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Finally, BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

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.