Huntington National Bank Sells 561 Shares of Veralto Co. (NYSE:VLTO)

Huntington National Bank lowered its holdings in Veralto Co. (NYSE:VLTO) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,376 shares of the company’s stock after selling 561 shares during the period. Huntington National Bank’s holdings in Veralto were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB bought a new stake in shares of Veralto during the 1st quarter worth approximately $237,864,000. Vanguard Group Inc. increased its position in shares of Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after buying an additional 1,568,103 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Veralto by 207.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares during the period. Capital International Investors grew its stake in shares of Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after buying an additional 553,021 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new position in shares of Veralto in the 2nd quarter worth $39,343,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. This represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. This trade represents a 36.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of recent analyst reports. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird lifted their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, TD Cowen upped their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $108.27.

Veralto Price Performance

Shares of VLTO opened at $102.68 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The stock has a market capitalization of $25.39 billion and a PE ratio of 31.69. The company has a 50 day moving average price of $108.69 and a 200-day moving average price of $104.00. Veralto Co. has a fifty-two week low of $70.06 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Equities analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. Veralto’s payout ratio is 11.11%.

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.