Buffington Mohr McNeal Lowers Holdings in Veralto Co. (NYSE:VLTO)

Buffington Mohr McNeal reduced its stake in shares of Veralto Co. (NYSE:VLTO) by 25.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,591 shares of the company’s stock after selling 1,213 shares during the period. Buffington Mohr McNeal’s holdings in Veralto were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Perkins Coie Trust Co boosted its position in shares of Veralto by 2.7% during the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock valued at $618,000 after acquiring an additional 185 shares during the last quarter. Czech National Bank grew its stake in shares of Veralto by 0.5% in the 1st 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. Delta Asset Management LLC TN increased its holdings in shares of Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the last quarter. Fishman Jay A Ltd. MI raised its position in shares of Veralto by 6.0% during the 4th quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock valued at $343,000 after buying an additional 238 shares in the last quarter. Finally, City Holding Co. lifted its holdings in shares of Veralto by 2.0% in the 1st quarter. City Holding Co. now owns 15,231 shares of the company’s stock valued at $1,350,000 after acquiring an additional 293 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’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 transaction, the senior vice president now directly 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 link. Also, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Veralto Price Performance

Shares of NYSE VLTO traded down $1.10 during trading hours on Tuesday, hitting $94.35. 1,991,317 shares of the stock were exchanged, compared to its average volume of 1,620,078. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $102.58. The firm has a fifty day moving average price of $98.09 and a 200-day moving average price of $88.72. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BNP Paribas began coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective on the stock. The Goldman Sachs Group assumed 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 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 on the stock. Robert W. Baird lifted their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.00.

About Veralto

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.