Burns J W & Co. Inc. NY Sells 5,616 Shares of Veralto Co. (NYSE:VLTO)

Burns J W & Co. Inc. NY decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 58.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,932 shares of the company’s stock after selling 5,616 shares during the period. Burns J W & Co. Inc. NY’s holdings in Veralto were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of VLTO. Corundum Group Inc. bought a new position in Veralto in the 1st quarter worth $223,000. Brookstone Capital Management boosted its holdings in Veralto by 36.4% in the 1st quarter. Brookstone Capital Management now owns 3,559 shares of the company’s stock worth $316,000 after buying an additional 949 shares during the period. Factory Mutual Insurance Co. boosted its holdings in Veralto by 27.4% in the 1st quarter. Factory Mutual Insurance Co. now owns 143,365 shares of the company’s stock worth $12,711,000 after buying an additional 30,800 shares during the period. Perkins Coie Trust Co boosted its holdings in Veralto by 2.7% in the 1st 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 period. Finally, Global Assets Advisory LLC bought a new position in Veralto in the 1st quarter worth $1,071,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of NYSE VLTO opened at $95.47 on Friday. The firm’s 50-day moving average price is $98.09 and its 200-day moving average price is $88.64. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $102.58.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts expect that Veralto Co. will post 3.37 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Friday, June 28th.

Wall Street Analyst Weigh In

VLTO has been the topic of several research analyst reports. BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. TD Cowen initiated coverage on shares of Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. The Goldman Sachs Group initiated coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insider Buying and Selling

In related news, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.