Chesley Taft & Associates LLC Trims Holdings in Veralto Co. (NYSE:VLTO)

Chesley Taft & Associates LLC reduced its stake in Veralto Co. (NYSE:VLTO) by 42.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,154 shares of the company’s stock after selling 3,838 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Veralto were worth $457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Neville Rodie & Shaw Inc. acquired a new position in Veralto in the fourth quarter valued at approximately $1,732,000. Anchor Investment Management LLC purchased a new position in shares of Veralto during the 4th quarter worth $117,000. Park National Corp OH acquired a new stake in shares of Veralto during the 4th quarter worth about $1,243,000. M&R Capital Management Inc. purchased a new stake in Veralto in the 4th quarter valued at about $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in Veralto in the fourth quarter valued at about $285,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. The Goldman Sachs Group started coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Robert W. Baird increased 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. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. Finally, TD Cowen began coverage on Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Veralto currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Activity

In other news, SVP Melissa Aquino sold 8,041 shares of Veralto 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 directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Mattias Bystrom sold 302 shares of the 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 sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 $1,942,399.16. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Veralto Trading Down 0.8 %

Shares of NYSE:VLTO traded down $0.77 during trading on Thursday, reaching $97.61. The company had a trading volume of 1,297,232 shares, compared to its average volume of 1,554,974. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $102.58. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. The stock’s fifty day moving average price is $97.95 and its 200 day moving average price is $88.43.

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

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. 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%.

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.