Choate Investment Advisors Sells 2,604 Shares of Veralto Co. (NYSE:VLTO)

Choate Investment Advisors trimmed its holdings in Veralto Co. (NYSE:VLTOFree Report) by 50.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,550 shares of the company’s stock after selling 2,604 shares during the period. Choate Investment Advisors’ holdings in Veralto were worth $226,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VLTO. Global Retirement Partners LLC lifted its stake in shares of Veralto by 3.2% in the first quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock worth $352,000 after buying an additional 123 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in shares of Veralto by 2.7% during the first quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock worth $618,000 after buying an additional 185 shares during the last quarter. Czech National Bank grew its position in Veralto by 0.5% in the 1st quarter. Czech National Bank now owns 38,585 shares of the company’s stock worth $3,421,000 after purchasing an additional 192 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of Veralto by 4.6% in the first quarter. Equitable Trust Co. now owns 4,880 shares of the company’s stock valued at $433,000 after buying an additional 213 shares during the period. Finally, Delta Asset Management LLC TN raised its holdings in Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after acquiring an additional 216 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction 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 in the company, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction 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 disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Veralto Price Performance

Shares of NYSE:VLTO traded down $0.74 during trading on Monday, hitting $98.02. 1,088,608 shares of the company’s stock traded hands, compared to its average volume of 1,592,733. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $98.51 and a 200-day moving average price of $89.75. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58.

Veralto (NYSE:VLTOGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that Veralto Co. will post 3.37 EPS for the current year.

Veralto Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. TD Cowen assumed coverage on shares of Veralto in a report on Monday, June 17th. They set a “hold” rating and a $95.00 price target for the company. BMO Capital Markets upped their price objective 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. Finally, Stifel Nicolaus raised their price objective on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Veralto currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Check Out Our Latest Stock Report on VLTO

Veralto Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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