Parsons Capital Management Inc. RI Sells 730 Shares of Veralto Co. (NYSE:VLTO)

Parsons Capital Management Inc. RI reduced its position in shares of Veralto Co. (NYSE:VLTO) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,296 shares of the company’s stock after selling 730 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Veralto were worth $697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VLTO. Vanguard Group Inc. acquired a new stake in shares of Veralto in the 4th quarter worth about $2,127,330,000. Capital International Investors purchased a new stake in shares of Veralto in the fourth quarter worth approximately $538,324,000. Brown Advisory Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $528,018,000. Norges Bank bought a new stake in Veralto during the fourth quarter worth $266,143,000. Finally, Swedbank AB purchased a new stake in Veralto in the 1st quarter valued at $237,864,000. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Insider Buying and Selling

In other news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,055 shares of company stock worth $428,345. Insiders own 0.31% of the company’s stock.

Veralto Stock Performance

VLTO traded up $0.01 on Tuesday, hitting $109.59. The company’s stock had a trading volume of 30,933 shares, compared to its average volume of 1,548,894. The company’s 50 day simple moving average is $101.10 and its 200-day simple moving average is $94.54. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $109.78. The firm has a market cap of $27.08 billion and a P/E ratio of 32.85.

Veralto (NYSE:VLTO) last issued 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. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. Analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, June 28th.

About Veralto

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.