Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 30,720 Shares of Veralto Co. (NYSE:VLTO)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Veralto Co. (NYSE:VLTO) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515,298 shares of the company’s stock after selling 30,720 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.21% of Veralto worth $51,118,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after purchasing an additional 1,568,103 shares during the period. Capital International Investors boosted its holdings in Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares during the last quarter. Brown Advisory Inc. purchased a new position in Veralto during the 4th quarter worth $528,018,000. Bank of New York Mellon Corp boosted its holdings in shares of Veralto by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock worth $352,700,000 after buying an additional 617,441 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Veralto in the 4th quarter worth about $266,143,000. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Down 0.2 %

Shares of NYSE:VLTO traded down $0.25 during trading on Friday, reaching $108.72. 942,846 shares of the company traded hands, compared to its average volume of 1,561,257. The firm has a market capitalization of $26.87 billion and a price-to-earnings ratio of 32.78. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $109.52. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The business’s fifty day moving average is $100.72 and its 200-day moving average is $93.86.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, June 28th.

Analyst Ratings Changes

VLTO has been the topic of several analyst reports. The Goldman Sachs Group upped their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus upped their price target on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. UBS Group initiated coverage on Veralto in a research report on Tuesday. They set a “neutral” rating and a $118.00 price target on the stock. Robert W. Baird upped their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, TD Cowen upped their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.46.

Insider Activity

In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,055 shares of company stock valued at $428,345. 0.31% of the stock is currently owned by company insiders.

Veralto 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.