Cadence Bank Sells 284 Shares of Veralto Co. (NYSE:VLTO)

Cadence Bank decreased its holdings in Veralto Co. (NYSE:VLTO) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,482 shares of the company’s stock after selling 284 shares during the period. Cadence Bank’s holdings in Veralto were worth $309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of Veralto in the fourth quarter worth $26,000. First Command Advisory Services Inc. purchased a new stake in Veralto during the fourth quarter valued at $25,000. Delta Asset Management LLC TN increased its position in Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after acquiring an additional 216 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Veralto during the fourth quarter valued at $27,000. Finally, Johnson Financial Group Inc. purchased a new stake in Veralto during the fourth quarter valued at $27,000. Institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the 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 completion of the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price objective on shares of Veralto in a research report on Friday, June 14th. Robert W. Baird upped their price objective on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Stifel Nicolaus boosted their price target on Veralto from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets boosted their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, TD Cowen initiated coverage on Veralto in a report on Monday, June 17th. They set a “hold” rating and a $95.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.08.

Veralto Stock Performance

Shares of NYSE VLTO traded up $5.26 during mid-day trading on Friday, reaching $104.87. The company’s stock had a trading volume of 2,971,930 shares, compared to its average volume of 1,581,389. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The stock has a fifty day moving average of $98.86 and a two-hundred day moving average of $90.80. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $107.86.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.80 EPS. On average, analysts anticipate that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, June 28th.

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.