WASHINGTON TRUST Co Sells 274 Shares of Veralto Co. (NYSE:VLTO)

WASHINGTON TRUST Co reduced its position in Veralto Co. (NYSE:VLTO) by 25.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 819 shares of the company’s stock after selling 274 shares during the period. WASHINGTON TRUST Co’s holdings in Veralto were worth $83,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Savant Capital LLC lifted its stake in Veralto by 0.5% in the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock valued at $2,055,000 after purchasing an additional 98 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after purchasing an additional 99 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after purchasing an additional 100 shares during the last quarter. Strategic Blueprint LLC lifted its stake in Veralto by 4.5% in the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after purchasing an additional 102 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its stake in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after purchasing an additional 103 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VLTO. Royal Bank of Canada cut their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Citigroup cut their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Stifel Nicolaus cut their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.55.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by insiders.

Veralto Stock Down 1.7 %

Shares of VLTO opened at $98.04 on Friday. Veralto Co. has a 12 month low of $83.34 and a 12 month high of $115.00. The firm’s 50 day moving average is $102.20 and its 200-day moving average is $106.16. The stock has a market capitalization of $24.25 billion, a PE ratio of 29.35, a P/E/G ratio of 4.21 and a beta of 1.06. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Equities research analysts forecast that Veralto Co. will post 3.63 EPS for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is 13.17%.

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.