Veralto Co. (NYSE:VLTO) Holdings Cut by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its holdings in Veralto Co. (NYSE:VLTO) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,654 shares of the company’s stock after selling 885 shares during the period. Kentucky Retirement Systems’ holdings in Veralto were worth $1,477,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VLTO. Global Retirement Partners LLC increased 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 valued at $352,000 after purchasing an additional 123 shares during the period. Perkins Coie Trust Co increased its stake in shares of Veralto by 2.7% in the first quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock valued at $618,000 after purchasing an additional 185 shares during the period. Czech National Bank increased its stake in shares of Veralto by 0.5% in the first quarter. Czech National Bank now owns 38,585 shares of the company’s stock valued at $3,421,000 after purchasing an additional 192 shares during the period. Equitable Trust Co. increased 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 purchasing an additional 213 shares during the period. Finally, Motco increased its stake in shares of Veralto by 53.7% in the first quarter. Motco now owns 610 shares of the company’s stock valued at $54,000 after purchasing an additional 213 shares during the period. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 302 shares of the firm’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 value of $30,314.76. Following the completion of 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Veralto Price Performance

Veralto stock traded up $5.26 during mid-day trading on Friday, hitting $104.87. The company’s stock had a trading volume of 3,164,725 shares, compared to its average volume of 1,589,276. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $25.89 billion and a P/E ratio of 28.81. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $107.86. The stock’s fifty day moving average price is $98.99 and its two-hundred day moving average price is $91.09.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 62.93%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. Research analysts forecast that Veralto Co. will post 3.43 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.34%. Veralto’s dividend payout ratio (DPR) is 9.89%.

Analyst Ratings Changes

Several equities research analysts have commented on VLTO shares. 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 note on Thursday, April 25th. Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of Veralto from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price objective on shares of Veralto in a research note on Friday, June 14th. Finally, TD Cowen assumed coverage on shares of Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.08.

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.