Canandaigua National Bank & Trust Co. Acquires Shares of 1,788 Veralto Co. (NYSE:VLTO)

Canandaigua National Bank & Trust Co. purchased a new position in shares of Veralto Co. (NYSE:VLTO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,788 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after acquiring an additional 100 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Veralto by 2.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock valued at $516,000 after buying an additional 142 shares during the period. Perkins Coie Trust Co raised its holdings in Veralto by 2.2% in the 2nd quarter. Perkins Coie Trust Co now owns 7,128 shares of the company’s stock valued at $680,000 after buying an additional 151 shares during the period. Graypoint LLC raised its holdings in Veralto by 3.8% in the 2nd quarter. Graypoint LLC now owns 4,407 shares of the company’s stock valued at $421,000 after buying an additional 160 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in Veralto by 5.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,533 shares of the company’s stock valued at $337,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of Veralto stock opened at $112.02 on Friday. Veralto Co. has a one year low of $65.51 and a one year high of $112.77. The company has a market cap of $27.65 billion and a PE ratio of 33.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The business has a 50-day simple moving average of $109.21 and a 200-day simple moving average of $100.40.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities research analysts forecast that Veralto Co. will post 3.45 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, September 27th.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock valued at $4,310,335 over the last three months. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VLTO shares. The Goldman Sachs Group boosted their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Robert W. Baird boosted their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Stifel Nicolaus boosted their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Veralto currently has an average rating of “Hold” and an average target price of $105.67.

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.