Community Financial Services Group LLC Increases Holdings in Veralto Corporation (NYSE:VLTO)

Community Financial Services Group LLC boosted its holdings in shares of Veralto Corporation (NYSE:VLTO) by 3.1% during the first quarter, Holdings Channel reports. The firm owned 53,344 shares of the company’s stock after acquiring an additional 1,615 shares during the quarter. Community Financial Services Group LLC’s holdings in Veralto were worth $5,198,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VLTO. Bernard Wealth Management Corp. bought a new stake in Veralto during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management bought a new stake in Veralto during the 4th quarter valued at approximately $26,000. BankPlus Trust Department bought a new stake in Veralto during the 4th quarter valued at approximately $29,000. Lee Danner & Bass Inc. bought a new stake in Veralto during the 4th quarter valued at approximately $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Veralto during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of VLTO opened at $98.45 on Tuesday. The business’s fifty day simple moving average is $97.06 and its two-hundred day simple moving average is $98.60. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. Veralto Corporation has a 12 month low of $83.87 and a 12 month high of $115.00. The company has a market cap of $24.40 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 4.16 and a beta of 0.97.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate 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%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. Research analysts anticipate that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto’s dividend payout ratio is presently 12.57%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Veralto

In other news, SVP Melissa Aquino sold 31,689 shares of the company’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 17,434 shares in the company, valued at $1,633,042.78. This represents a 64.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total value of $57,259.50. Following the completion of the sale, the senior vice president now owns 10,011 shares of the company’s stock, valued at $971,567.55. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,503 shares of company stock worth $4,396,629. Insiders own 0.36% of the company’s stock.

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.