Webster Bank N. A. Cuts Stake in Veralto Co. (NYSE:VLTO)

Webster Bank N. A. lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,680 shares of the company’s stock after selling 2,174 shares during the period. Webster Bank N. A.’s holdings in Veralto were worth $858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of Veralto during the fourth quarter valued at $2,127,330,000. Capital International Investors acquired a new position in shares of Veralto in the fourth quarter valued at about $538,324,000. Brown Advisory Inc. purchased a new position in shares of Veralto in the fourth quarter worth about $528,018,000. Impax Asset Management Group plc acquired a new stake in shares of Veralto during the fourth quarter worth about $347,827,000. Finally, Norges Bank purchased a new stake in Veralto in the fourth quarter valued at approximately $266,143,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veralto news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,942,399.16. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Veralto Stock Performance

VLTO stock opened at $95.47 on Friday. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm has a 50-day simple moving average of $98.09 and a 200-day simple moving average of $88.64.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Veralto Co. will post 3.37 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.38%.

Analyst Ratings Changes

Several analysts have commented on VLTO shares. BMO Capital Markets lifted their price objective 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. Stifel Nicolaus increased their price target on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price objective on shares of Veralto in a report on Friday, June 14th. BNP Paribas assumed coverage on Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

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.