Veralto Co. (NYSE:VLTO) Stock Holdings Lowered by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lessened its position in Veralto Co. (NYSE:VLTO) by 50.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,026 shares of the company’s stock after selling 8,147 shares during the period. Parsons Capital Management Inc. RI’s holdings in Veralto were worth $712,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates acquired a new stake in shares of Veralto in the first quarter valued at approximately $38,223,000. First Trust Direct Indexing L.P. boosted its position in shares of Veralto by 15.7% during the first quarter. First Trust Direct Indexing L.P. now owns 3,045 shares of the company’s stock worth $270,000 after buying an additional 414 shares during the period. Azzad Asset Management Inc. ADV grew its holdings in Veralto by 26.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,776 shares of the company’s stock worth $1,221,000 after buying an additional 2,912 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Veralto by 5.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 608,241 shares of the company’s stock valued at $53,927,000 after acquiring an additional 34,097 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Veralto by 31.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,092 shares of the company’s stock valued at $1,427,000 after acquiring an additional 3,820 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

VLTO stock traded up $0.33 on Friday, hitting $94.12. 1,151,386 shares of the company’s stock traded hands, compared to its average volume of 1,946,553. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $95.40. The company has a quick ratio of 1.40, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The stock has a fifty day moving average of $88.53 and a 200-day moving average of $80.44.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. On average, research analysts expect that Veralto Co. will post 3.34 EPS for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%.

Analyst Ratings Changes

Several research analysts have recently issued reports on VLTO shares. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target for the company. BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. BMO Capital Markets boosted their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Finally, Citigroup boosted their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.18.

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.