Asset Dedication LLC Sells 151 Shares of Veralto Corporation (NYSE:VLTO)

Asset Dedication LLC cut its stake in shares of Veralto Corporation (NYSE:VLTO) by 11.0% in the first quarter, Holdings Channel reports. The firm owned 1,226 shares of the company’s stock after selling 151 shares during the quarter. Asset Dedication LLC’s holdings in Veralto were worth $119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Veralto during the fourth quarter worth $25,000. Lee Danner & Bass Inc. acquired a new stake in Veralto during the 4th quarter worth $43,000. Murphy & Mullick Capital Management Corp acquired a new stake in Veralto during the 4th quarter worth $44,000. Opal Wealth Advisors LLC acquired a new stake in Veralto during the 1st quarter worth $45,000. Finally, Grove Bank & Trust raised its stake in Veralto by 198.2% during the 1st quarter. Grove Bank & Trust now owns 510 shares of the company’s stock worth $50,000 after buying an additional 339 shares during the period. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Robert W. Baird raised their price objective on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Northcoast Research initiated coverage on Veralto in a research note on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective on the stock. Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Royal Bank Of Canada upped their price target on shares of Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus upped their price target on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto has an average rating of “Hold” and a consensus price target of $110.09.

Veralto Trading Up 0.3%

Veralto stock opened at $102.24 on Tuesday. The company has a market cap of $25.34 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 4.08 and a beta of 0.91. The firm has a 50-day moving average of $100.17 and a 200-day moving average of $98.40. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.19 and a quick ratio of 1.92. Veralto Corporation has a one year low of $83.87 and a one year high of $115.00.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 45.63% and a net margin of 16.56%. Veralto’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, equities analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Veralto’s dividend payout ratio is currently 12.57%.

Insiders Place Their Bets

In related news, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the sale, the senior vice president owned 17,434 shares of the company’s stock, valued at approximately $1,633,042.78. The trade was a 64.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president directly owned 13,571 shares in the company, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,913 shares of company stock valued at $4,339,370 in the last quarter. 0.36% of the stock is currently 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.