Huntington National Bank Reduces Stake in Veralto Co. (NYSE:VLTO)

Huntington National Bank trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,376 shares of the company’s stock after selling 561 shares during the quarter. Huntington National Bank’s holdings in Veralto were worth $1,049,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Veralto in the 3rd quarter worth about $25,000. Goodman Advisory Group LLC bought a new position in Veralto during the second quarter valued at approximately $26,000. Fairscale Capital LLC bought a new stake in shares of Veralto in the second quarter worth $30,000. Raleigh Capital Management Inc. grew its stake in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares during the period. Finally, LRI Investments LLC bought a new stake in Veralto during the first quarter valued at approximately $30,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 0.4 %

VLTO opened at $102.68 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a market cap of $25.39 billion and a PE ratio of 31.69. The firm has a 50 day moving average price of $108.69 and a 200 day moving average price of $104.00. Veralto Co. has a 1 year low of $70.06 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VLTO shares. Stifel Nicolaus raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. The Goldman Sachs Group boosted their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, TD Cowen boosted their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $108.27.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,393,810. This represents a 36.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is owned by corporate insiders.

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.