Truist Financial Corp Has $11.26 Million Holdings in Veralto Co. (NYSE:VLTO)

Truist Financial Corp reduced its holdings in Veralto Co. (NYSE:VLTO) by 5.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,957 shares of the company’s stock after selling 6,770 shares during the quarter. Truist Financial Corp’s holdings in Veralto were worth $11,261,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its position in Veralto by 78.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after acquiring an additional 35,433 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Veralto during the fourth quarter worth about $717,000. Cetera Investment Advisers grew its holdings in shares of Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after buying an additional 34,505 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Veralto by 19.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock valued at $14,952,000 after buying an additional 27,891 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Veralto in the 1st quarter valued at approximately $1,011,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

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

Veralto Stock Up 0.6 %

VLTO stock opened at $112.02 on Friday. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $112.77. The business’s 50 day simple moving average is $109.21 and its 200 day simple moving average is $100.40. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $27.65 billion and a PE ratio of 33.24.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, research analysts anticipate that Veralto Co. will post 3.45 EPS for the current year.

Veralto Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Stifel Nicolaus lifted their target price on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target of $105.67.

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.