TIAA Trust National Association Decreases Stock Holdings in Veralto Co. (NYSE:VLTO)

TIAA Trust National Association lowered its stake in shares of Veralto Co. (NYSE:VLTO) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,276 shares of the company’s stock after selling 882 shares during the period. TIAA Trust National Association’s holdings in Veralto were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of VLTO. Blue Trust Inc. acquired a new position in shares of Veralto in the fourth quarter valued at approximately $26,000. First Command Advisory Services Inc. purchased a new position in shares of Veralto in the fourth quarter valued at $25,000. Delta Asset Management LLC TN boosted its stake in shares of Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Veralto in the fourth quarter valued at $27,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Veralto in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, 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 filing with the SEC, which can be accessed through this link. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, 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 filing with the SEC, which can be accessed through this link. Also, SVP Mattias Bystrom sold 302 shares of the firm’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 approximately $3,417,437.10. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Veralto Trading Down 0.2 %

Shares of VLTO stock traded down $0.17 during trading hours on Friday, reaching $98.46. The stock had a trading volume of 1,011,369 shares, compared to its average volume of 1,722,530. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $102.58. The firm has a 50-day simple moving average of $98.69 and a 200-day simple moving average of $90.27.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The firm’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that Veralto Co. will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%.

Analyst Upgrades and Downgrades

VLTO has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 target price on shares of Veralto in a research note on Friday, June 14th. TD Cowen started coverage on shares of Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 target price for the company. BMO Capital Markets increased 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 objective on shares of Veralto from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Robert W. Baird raised their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Veralto currently has an average rating of “Moderate Buy” and an average target price of $97.08.

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.