Argent Trust Co Lowers Stock Position in Veralto Co. (NYSE:VLTO)

Argent Trust Co cut its holdings in Veralto Co. (NYSE:VLTO) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,305 shares of the company’s stock after selling 211 shares during the quarter. Argent Trust Co’s holdings in Veralto were worth $697,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC bought a new position in shares of Veralto during the fourth quarter valued at approximately $3,202,000. Daiwa Securities Group Inc. increased its position in Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after buying an additional 35,433 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Veralto during the fourth quarter valued at $79,075,000. Wells Fargo & Company MN bought a new stake in Veralto in the fourth quarter worth $25,633,000. Finally, Nomura Holdings Inc. bought a new stake in Veralto in the fourth quarter worth $717,000. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Stifel Nicolaus raised their price target on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.46.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the transaction, the senior vice president now owns 11,918 shares in the company, valued at $1,324,089.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the sale, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The disclosure for this sale can be found here. Insiders have sold a total of 25,096 shares of company stock worth $2,772,707 in the last three months. Insiders own 0.31% of the company’s stock.

Veralto Trading Up 1.3 %

Veralto stock opened at $109.49 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The firm’s 50 day moving average price is $106.70 and its 200-day moving average price is $98.58. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $112.77. The stock has a market cap of $27.06 billion and a P/E ratio of 33.22.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. On average, equities analysts predict that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

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.