PNC Financial Services Group Inc. Sells 17,694 Shares of Veralto Corporation $VLTO

Key Points

• PNC Financial Services reduced its Veralto stake by 21.7% in the first quarter, selling 17,694 shares and retaining 63,842 shares valued at approximately $5.65 million. Institutional investors collectively own 91.28% of VLTO.
• Analyst sentiment is mixed, with five Buy ratings and six Hold ratings producing a consensus rating of Hold and an average price target of $106.33.
• Veralto exceeded quarterly expectations, reporting $1.07 in adjusted EPS and $1.42 billion in revenue, while revenue rose 6.8% year over year. The company also declared a quarterly dividend of $0.13 per share, representing a 0.6% annualized yield.

PNC Financial Services Group Inc. lessened its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 21.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 63,842 shares of the company's stock after selling 17,694 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Veralto were worth $5,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VLTO. Laurel Wealth Advisors LLC acquired a new position in Veralto in the 4th quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Veralto by 82.2% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 286 shares of the company's stock worth $29,000 after acquiring an additional 129 shares during the last quarter. Creative Capital Management Investments LLC lifted its position in Veralto by 45.9% during the fourth quarter. Creative Capital Management Investments LLC now owns 340 shares of the company's stock worth $34,000 after acquiring an additional 107 shares during the last quarter. DV Equities LLC bought a new stake in shares of Veralto during the fourth quarter worth approximately $35,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Veralto during the fourth quarter worth approximately $37,000. Institutional investors own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the topic of several research reports. Royal Bank Of Canada upped their target price on Veralto from $99.00 to $100.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. Citigroup dropped their price target on Veralto from $104.00 to $102.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. UBS Group boosted their price target on Veralto from $99.00 to $101.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Jefferies Financial Group started coverage on Veralto in a report on Tuesday, March 31st. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on Veralto from $110.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Veralto presently has an average rating of "Hold" and a consensus target price of $106.33.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $92.02 on Monday. The company's 50 day moving average price is $87.66 and its two-hundred day moving average price is $91.01. Veralto Corporation has a 12-month low of $80.03 and a 12-month high of $110.11. The firm has a market cap of $22.60 billion, a PE ratio of 23.78, a PEG ratio of 2.59 and a beta of 0.63. The company has a quick ratio of 1.32, a current ratio of 1.48 and a debt-to-equity ratio of 0.65.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.02 by $0.05. Veralto had a net margin of 17.33% and a return on equity of 34.63%. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the firm earned $0.95 earnings per share. The business's revenue for the quarter was up 6.8% on a year-over-year basis. Veralto has set its FY 2026 guidance at 4.200-4.280 EPS and its Q2 2026 guidance at 0.960-1.000 EPS. Equities research analysts predict that Veralto Corporation will post 4.24 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Veralto's dividend payout ratio (DPR) is 13.44%.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.

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