Kingswood Wealth Advisors LLC Sells 279 Shares of Veralto Co. (NYSE:VLTO)

Kingswood Wealth Advisors LLC cut its stake in shares of Veralto Co. (NYSE:VLTO) by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,464 shares of the company’s stock after selling 279 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Veralto were worth $218,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Factory Mutual Insurance Co. raised its position in shares of Veralto by 27.4% during the 1st quarter. Factory Mutual Insurance Co. now owns 143,365 shares of the company’s stock valued at $12,711,000 after buying an additional 30,800 shares in the last quarter. Perkins Coie Trust Co lifted its stake in Veralto by 2.7% during the first quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock worth $618,000 after purchasing an additional 185 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Veralto in the 1st quarter worth about $1,071,000. Washington Capital Management Inc. bought a new position in shares of Veralto during the 1st quarter valued at about $208,000. Finally, City Holding Co. raised its holdings in shares of Veralto by 2.0% during the 1st quarter. City Holding Co. now owns 15,231 shares of the company’s stock valued at $1,350,000 after buying an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of VLTO stock opened at $95.47 on Friday. The stock has a fifty day moving average of $98.09 and a 200 day moving average of $88.64. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58. 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 firm has a market capitalization of $23.57 billion and a price-to-earnings ratio of 26.37.

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

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date is Friday, June 28th. Veralto’s dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VLTO shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 target price on shares of Veralto in a research note on Friday, June 14th. Robert W. Baird increased their target price on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. BMO Capital Markets boosted their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. BNP Paribas initiated coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target for the company. Finally, Stifel Nicolaus lifted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insider Activity

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

Veralto Company 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.