Raymond James Trust N.A. Sells 172 Shares of Veralto Co. (NYSE:VLTO)

Raymond James Trust N.A. lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 2.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,729 shares of the company’s stock after selling 172 shares during the quarter. Raymond James Trust N.A.’s holdings in Veralto were worth $641,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after purchasing an additional 200,657 shares during the period. Swedbank AB increased its position in shares of Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after buying an additional 132,105 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Veralto by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company’s stock worth $173,351,000 after buying an additional 141,209 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Veralto by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after acquiring an additional 24,246 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after acquiring an additional 757,389 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 1.9 %

Shares of VLTO opened at $108.48 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a fifty-two week low of $72.85 and a fifty-two week high of $115.00. The firm has a 50 day moving average price of $108.08 and a 200-day moving average price of $104.59. The firm has a market cap of $26.83 billion and a price-to-earnings ratio of 33.48.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, equities research analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.33%. Veralto’s payout ratio is currently 11.11%.

Wall Street Analyst Weigh In

Several brokerages have commented on VLTO. Stifel Nicolaus raised their price target on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen lifted their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $108.27.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This trade represents a 6.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by company insiders.

Veralto Company 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.