National Bank of Canada FI Sells 81,431 Shares of Veralto Corporation (NYSE:VLTO)

Key Points

• National Bank of Canada FI reduced its stake in Veralto Corporation by 20.2%, selling 81,431 shares during the first quarter, and now holds approximately 0.13% of the company, valued at $31.3 million.
• Despite substantial selling by some insiders, including SVP Surekha Trivedi and SVP Lesley Beneteau, institutional investors own 91.28% of Veralto's stock.
• Analysts rate Veralto with a consensus of "Moderate Buy" and a target price averaging $114.00, following various upgrades from brokerages throughout the year.

National Bank of Canada FI lessened its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 20.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 321,374 shares of the company's stock after selling 81,431 shares during the period. National Bank of Canada FI owned about 0.13% of Veralto worth $31,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in Veralto by 11.5% during the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock valued at $1,872,000 after buying an additional 1,985 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Veralto by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock valued at $856,000 after buying an additional 113 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Veralto by 9.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 26,833 shares of the company's stock valued at $2,619,000 after buying an additional 2,313 shares during the period. Assenagon Asset Management S.A. increased its holdings in Veralto by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock valued at $1,417,000 after buying an additional 429 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Veralto by 12.8% during the first quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock valued at $287,000 after buying an additional 333 shares during the period. Institutional investors own 91.28% of the company's stock.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the sale, the senior vice president directly owned 8,433 shares of the company's stock, valued at approximately $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lesley Beneteau sold 458 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction 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. The trade was 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 have sold 3,806 shares of company stock valued at $381,351. 0.36% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on VLTO. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada raised their target price on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Stifel Nicolaus set a $120.00 target price on shares of Veralto and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Citigroup lowered their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Veralto Trading Up 0.2%

NYSE VLTO opened at $107.73 on Friday. The company has a fifty day simple moving average of $101.78 and a two-hundred day simple moving average of $98.72. The stock has a market cap of $26.73 billion, a P/E ratio of 30.09, a P/E/G ratio of 3.55 and a beta of 0.91. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. On average, analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 30th. Veralto's dividend payout ratio is presently 12.29%.

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.

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