First Bank & Trust Makes New Investment in Veralto Co. (NYSE:VLTO)

First Bank & Trust purchased a new position in shares of Veralto Co. (NYSE:VLTO) during the 1st quarter, Holdings Channel reports. The fund purchased 13,746 shares of the company’s stock, valued at approximately $1,219,000.

Several other institutional investors also recently modified their holdings of VLTO. Vanguard Group Inc. bought a new position in Veralto in the 4th quarter valued at about $2,127,330,000. Capital International Investors bought a new position in Veralto in the 4th quarter valued at about $538,324,000. Brown Advisory Inc. bought a new position in Veralto in the 4th quarter valued at about $528,018,000. Impax Asset Management Group plc bought a new position in Veralto in the 4th quarter valued at about $347,827,000. Finally, Norges Bank bought a new position in Veralto in the 4th quarter valued at about $266,143,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

NYSE VLTO traded down $2.05 during mid-day trading on Friday, reaching $95.47. 9,333,707 shares of the stock were exchanged, compared to its average volume of 1,442,760. Veralto Co. has a one year low of $65.51 and a one year high of $102.58. The stock has a 50 day simple moving average of $98.09 and a 200-day simple moving average of $88.64. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

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

Veralto Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen began coverage on shares of Veralto in a report on Monday, June 17th. They issued a “hold” rating and a $95.00 price target on the stock. Robert W. Baird raised their target price on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. The Goldman Sachs Group began coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, BNP Paribas began coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Veralto presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Buying and Selling

In other Veralto 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 value 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 filing with the SEC, which can be accessed through this hyperlink. In related news, 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 owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Veralto 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.