Trust Co. of Vermont Cuts Stock Position in Veralto Co. (NYSE:VLTO)

Trust Co. of Vermont lessened its position in Veralto Co. (NYSE:VLTO) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,158 shares of the company’s stock after selling 105 shares during the quarter. Trust Co. of Vermont’s holdings in Veralto were worth $241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VLTO. Goodman Advisory Group LLC purchased a new stake in Veralto during the 2nd quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in Veralto during the 2nd quarter worth about $30,000. LRI Investments LLC purchased a new stake in Veralto during the 1st quarter worth about $30,000. Hazlett Burt & Watson Inc. increased its holdings in Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares during the period. Finally, Mather Group LLC. purchased a new stake in Veralto during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Royal Bank of Canada upped their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. TD Cowen upped their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus target price of $108.00.

Insider Activity at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,039 shares of company stock worth $4,310,335. 0.31% of the stock is owned by insiders.

Veralto Stock Performance

Shares of VLTO stock opened at $113.60 on Friday. The company has a market cap of $28.04 billion and a price-to-earnings ratio of 35.61. The stock has a 50 day simple moving average of $110.66 and a 200-day simple moving average of $102.07. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $114.61. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion during 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%. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. On average, equities analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s payout ratio is currently 11.29%.

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.