CoreFirst Bank & Trust Makes New Investment in Veralto Co. (NYSE:VLTO)

CoreFirst Bank & Trust acquired a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 865 shares of the company’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nordea Investment Management AB lifted its stake in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the last quarter. State Street Corp lifted its stake in Veralto by 9.8% in the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares during the period. Geode Capital Management LLC increased its position in Veralto by 10.5% during the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after buying an additional 558,393 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Veralto in the fourth quarter valued at approximately $51,986,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

NYSE VLTO opened at $97.74 on Wednesday. The firm has a 50-day moving average price of $99.83 and a two-hundred day moving average price of $104.19. Veralto Co. has a 12-month low of $85.91 and a 12-month high of $115.00. The company has a market capitalization of $24.20 billion, a P/E ratio of 29.26, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Analysts Set New Price Targets

VLTO has been the subject of several research analyst reports. Citigroup reduced their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada reduced their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Stifel Nicolaus reduced their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Veralto currently has a consensus rating of “Hold” and an average price target of $113.50.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the sale, the chief executive officer now owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. This trade represents a 8.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,881 shares of company stock worth $2,176,770. Company insiders own 0.31% of the company’s stock.

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.