City Holding Co. Boosts Stake in Veralto Co. (NYSE:VLTO)

City Holding Co. boosted its position in shares of Veralto Co. (NYSE:VLTO) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,648 shares of the company’s stock after buying an additional 1,795 shares during the period. City Holding Co.’s holdings in Veralto were worth $2,086,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Country Trust Bank grew its stake in shares of Veralto by 866.0% in the 3rd quarter. Country Trust Bank now owns 483 shares of the company’s stock worth $54,000 after buying an additional 433 shares in the last quarter. Axiom Advisory LLC grew its position in Veralto by 2.9% in the third quarter. Axiom Advisory LLC now owns 6,336 shares of the company’s stock worth $670,000 after acquiring an additional 179 shares in the last quarter. Mather Group LLC. increased its stake in Veralto by 55.8% during the third quarter. Mather Group LLC. now owns 888 shares of the company’s stock worth $99,000 after acquiring an additional 318 shares during the last quarter. Value Partners Investments Inc. increased its position in shares of Veralto by 68.1% during the 3rd quarter. Value Partners Investments Inc. now owns 2,736 shares of the company’s stock valued at $306,000 after purchasing an additional 1,108 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Veralto by 26.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,953 shares of the company’s stock valued at $442,000 after buying an additional 820 shares during the period. Institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. TD Cowen upped their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada raised their price target on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $105.67.

Veralto Trading Up 1.0 %

VLTO opened at $112.18 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The stock’s fifty day moving average is $109.33 and its two-hundred day moving average is $100.64. The company has a market capitalization of $27.69 billion and a P/E ratio of 33.63. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $112.77.

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

Veralto Announces Dividend

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

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,039 shares of company stock valued at $4,310,335 over the last ninety days. 0.31% of the stock is owned by company 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.