Edmond DE Rothschild Holding S.A. Cuts Stake in Veralto Co. (NYSE:VLTO)

Edmond DE Rothschild Holding S.A. cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 91.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,277 shares of the company’s stock after selling 13,383 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Veralto were worth $113,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in shares of Veralto in the 1st quarter valued at about $754,000. QRG Capital Management Inc. lifted its position in Veralto by 187.6% in the first quarter. QRG Capital Management Inc. now owns 18,645 shares of the company’s stock valued at $1,653,000 after purchasing an additional 12,161 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Veralto by 146.8% during the first quarter. Headlands Technologies LLC now owns 1,049 shares of the company’s stock valued at $93,000 after purchasing an additional 624 shares during the period. Regency Capital Management Inc. DE grew its holdings in shares of Veralto by 8.2% in the first quarter. Regency Capital Management Inc. DE now owns 53,763 shares of the company’s stock worth $4,767,000 after purchasing an additional 4,077 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Veralto by 20.9% in the first quarter. Sei Investments Co. now owns 274,767 shares of the company’s stock worth $24,362,000 after buying an additional 47,589 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

Shares of VLTO stock traded down $1.16 during trading hours on Wednesday, hitting $98.04. 1,443,296 shares of the company’s stock traded hands, compared to its average volume of 1,589,735. 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 stock’s fifty day simple moving average is $98.60 and its two-hundred day simple moving average is $90.03. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $102.58.

Veralto (NYSE:VLTO) last released its earnings results 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. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Veralto Co. will post 3.37 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.37%.

Insider Activity

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of Veralto 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 sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. The Goldman Sachs Group started coverage on Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Veralto in a report on Friday, June 14th. TD Cowen assumed coverage on Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.00.

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.