Fifth Third Bancorp Has $4.75 Million Holdings in Veralto Co. (NYSE:VLTO)

Fifth Third Bancorp decreased its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,738 shares of the company's stock after selling 5,259 shares during the period. Fifth Third Bancorp's holdings in Veralto were worth $4,750,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto during the 4th quarter worth $25,000. OFI Invest Asset Management acquired a new stake in shares of Veralto during the 4th quarter worth $26,000. BankPlus Trust Department acquired a new stake in shares of Veralto during the 4th quarter worth $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Veralto during the 4th quarter worth $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Veralto during the 4th quarter worth $44,000. Institutional investors own 91.28% of the company's stock.

Veralto Trading Down 1.6%

Veralto stock traded down $1.55 during trading hours on Friday, hitting $97.20. The stock had a trading volume of 825,458 shares, compared to its average volume of 1,448,744. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The stock has a market cap of $24.09 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 4.24 and a beta of 0.97. Veralto Co. has a one year low of $83.87 and a one year high of $115.00. The business's 50 day simple moving average is $96.12 and its 200-day simple moving average is $99.06.

Veralto (NYSE:VLTO - Get Free Report) last posted 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. On average, equities analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto's dividend payout ratio (DPR) is 12.57%.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred 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 directly owns 10,011 shares in the company, valued at approximately $971,567.55. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the sale, the chief executive officer now owns 116,637 shares of the company's stock, valued at approximately $11,495,742.72. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,917 shares of company stock worth $5,423,033 over the last ninety days. 0.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several analyst reports. Northcoast Research began coverage on Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price on the stock. Robert W. Baird raised their price objective on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Citigroup reduced their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada raised their price objective on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus raised their price objective on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $110.09.

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.