UMB Bank n.a. Reduces Stake in Veralto Co. (NYSE:VLTO)

UMB Bank n.a. trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,222 shares of the company’s stock after selling 820 shares during the quarter. UMB Bank n.a.’s holdings in Veralto were worth $584,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Mountain Pacific Investment Advisers LLC lifted its holdings in shares of Veralto by 15.6% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 54,099 shares of the company’s stock valued at $6,052,000 after purchasing an additional 7,283 shares in the last quarter. Perpetual Ltd raised its position in shares of Veralto by 8.2% during the 3rd quarter. Perpetual Ltd now owns 89,744 shares of the company’s stock worth $10,039,000 after purchasing an additional 6,811 shares during the last quarter. CWM LLC raised its position in shares of Veralto by 5.9% during the 3rd quarter. CWM LLC now owns 6,138 shares of the company’s stock worth $687,000 after purchasing an additional 343 shares during the last quarter. Perkins Coie Trust Co lifted its stake in Veralto by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 7,253 shares of the company’s stock valued at $811,000 after buying an additional 125 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in Veralto by 8.9% during the 3rd quarter. Brookstone Capital Management now owns 3,240 shares of the company’s stock valued at $362,000 after buying an additional 266 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock worth $4,310,335 over the last ninety days. 0.31% of the stock is owned by company insiders.

Veralto Trading Up 1.2 %

VLTO stock opened at $113.14 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The company has a market cap of $27.96 billion and a price-to-earnings ratio of 35.47. The business has a fifty day simple moving average of $109.66 and a 200-day simple moving average of $100.96. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $114.18.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. The company 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 firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, equities research analysts expect that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. Veralto’s dividend payout ratio (DPR) is 11.29%.

Analyst Upgrades and Downgrades

VLTO has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their target price on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. UBS Group initiated coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. BMO Capital Markets upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus raised their target price on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.67.

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.