Perkins Coie Trust Co Increases Holdings in Veralto Co. (NYSE:VLTO)

Perkins Coie Trust Co increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,977 shares of the company’s stock after purchasing an additional 185 shares during the period. Perkins Coie Trust Co’s holdings in Veralto were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in VLTO. Vanguard Group Inc. acquired a new stake in Veralto during the fourth quarter worth about $2,127,330,000. Capital International Investors acquired a new stake in Veralto during the fourth quarter worth about $538,324,000. Brown Advisory Inc. acquired a new stake in Veralto during the fourth quarter worth about $528,018,000. Impax Asset Management Group plc acquired a new stake in Veralto during the fourth quarter worth about $347,827,000. Finally, Norges Bank acquired a new stake in Veralto during the fourth quarter worth about $266,143,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. BMO Capital Markets increased their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, TD Cowen initiated coverage on shares of Veralto in a report on Monday, June 17th. They issued a “hold” rating and a $95.00 price objective for the company. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.00.

Insider Activity at Veralto

In related news, 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 completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction that occurred 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 transaction, 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. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

NYSE VLTO traded up $0.88 during midday trading on Monday, hitting $99.75. The company had a trading volume of 1,372,740 shares, compared to its average volume of 1,561,053. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The firm has a fifty day simple moving average of $97.46 and a two-hundred day simple moving average of $88.13. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $102.58.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts predict that Veralto Co. will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

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.