First Hawaiian Bank Makes New $260,000 Investment in Veralto Co. (NYSE:VLTO)

First Hawaiian Bank purchased a new stake in shares of Veralto Co. (NYSE:VLTO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,725 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors also recently modified their holdings of the company. First Command Advisory Services Inc. bought a new position in Veralto in the 4th quarter worth approximately $25,000. Blue Trust Inc. acquired a new stake in Veralto in the 4th quarter worth $26,000. Delta Asset Management LLC TN raised its position in shares of Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 216 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Veralto during the fourth quarter worth about $27,000. Finally, Johnson Financial Group Inc. bought a new position in Veralto during the fourth quarter valued at about $27,000. Institutional investors own 91.28% of the company’s stock.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Honeycutt 13,191 shares of the firm’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Over the last three months, insiders sold 4,055 shares of company stock valued at $428,345. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VLTO. The Goldman Sachs Group raised their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, 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 research note on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Veralto presently has an average rating of “Moderate Buy” and an average target price of $103.33.

Veralto Price Performance

NYSE VLTO traded up $2.34 during trading hours on Tuesday, reaching $104.33. 635,509 shares of the company’s stock were exchanged, compared to its average volume of 1,581,931. The firm has a fifty day moving average of $99.57 and a 200-day moving average of $92.45. Veralto Co. has a one year low of $65.51 and a one year high of $107.86. The stock has a market cap of $25.78 billion and a PE ratio of 31.67. The company has a current ratio of 1.96, a quick ratio of 1.56 and a debt-to-equity ratio of 1.56.

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

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, June 28th.

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.