Keybank National Association OH Sells 5,099 Shares of Veralto Corporation (NYSE:VLTO)

Keybank National Association OH lowered its position in Veralto Corporation (NYSE:VLTO - Free Report) by 11.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,588 shares of the company's stock after selling 5,099 shares during the period. Keybank National Association OH's holdings in Veralto were worth $3,760,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in Veralto in the 4th quarter worth $25,000. OFI Invest Asset Management purchased a new stake in Veralto in the 4th quarter worth $26,000. Lee Danner & Bass Inc. purchased a new stake in Veralto in the 4th quarter worth $43,000. Murphy & Mullick Capital Management Corp purchased a new stake in Veralto in the 4th quarter worth $44,000. Finally, IFP Advisors Inc lifted its stake in Veralto by 64.5% in the 4th quarter. IFP Advisors Inc now owns 454 shares of the company's stock worth $46,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Veralto Trading Down 1.0%

NYSE:VLTO traded down $1.06 during mid-day trading on Monday, hitting $102.69. 714,767 shares of the stock traded hands, compared to its average volume of 1,408,700. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 4.16 and a beta of 0.91. Veralto Corporation has a 52 week low of $83.87 and a 52 week high of $115.00. The firm's 50 day moving average is $99.41 and its two-hundred day moving average is $98.43. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, equities research analysts predict that Veralto Corporation will post 3.66 earnings per share for the current 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 $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. Veralto's dividend payout ratio is currently 12.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on VLTO. Royal Bank Of Canada boosted their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Citigroup decreased their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Northcoast Research assumed coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target on the stock. Robert W. Baird upped their target price on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus upped their target price on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $110.09.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,418 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total value of $989,710.00. Following the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at $10,090,805. This represents a 8.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president owned 13,571 shares in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,913 shares of company stock worth $4,339,370. 0.36% of the stock is owned by company insiders.

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.