Central Pacific Bank Trust Division Acquires New Shares in Veralto Co. (NYSE:VLTO)

Central Pacific Bank Trust Division bought a new position in shares of Veralto Co. (NYSE:VLTOFree Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,721 shares of the company’s stock, valued at approximately $676,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VLTO. Global Retirement Partners LLC boosted its stake in Veralto by 3.2% in the 1st quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock worth $352,000 after purchasing an additional 123 shares during the period. Perkins Coie Trust Co boosted its position in shares of Veralto by 2.7% during the first quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock worth $618,000 after buying an additional 185 shares during the period. Czech National Bank grew its holdings in shares of Veralto by 0.5% during the first quarter. Czech National Bank now owns 38,585 shares of the company’s stock worth $3,421,000 after buying an additional 192 shares in the last quarter. Equitable Trust Co. raised its position in Veralto by 4.6% in the 1st quarter. Equitable Trust Co. now owns 4,880 shares of the company’s stock valued at $433,000 after buying an additional 213 shares during the last quarter. Finally, Delta Asset Management LLC TN lifted its stake in Veralto by 216.0% in the 4th 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 in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VLTO has been the subject of several research reports. BNP Paribas began coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. TD Cowen assumed coverage on Veralto in a research report on Monday, June 17th. They issued a “hold” rating and a $95.00 target price on the stock. BMO Capital Markets increased their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Robert W. Baird boosted their price target on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Veralto presently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Read Our Latest Research Report on VLTO

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 completion of the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the senior vice president now 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 insiders.

Veralto Price Performance

Shares of VLTO stock traded down $0.31 during midday trading on Wednesday, hitting $95.39. 36,135 shares of the company were exchanged, compared to its average volume of 1,591,103. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58. The firm’s 50 day moving average price is $98.36 and its two-hundred day moving average price is $89.43. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83.

Veralto (NYSE:VLTOGet Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate 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 for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Veralto Co. will post 3.37 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Veralto Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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