West Paces Advisors Inc. Sells 219 Shares of Veralto Co. (NYSE:VLTO)

West Paces Advisors Inc. reduced its stake in shares of Veralto Co. (NYSE:VLTO) by 40.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 329 shares of the company’s stock after selling 219 shares during the quarter. West Paces Advisors Inc.’s holdings in Veralto were worth $29,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VLTO. Vanguard Group Inc. purchased a new stake in Veralto in the fourth quarter worth about $2,127,330,000. Capital International Investors purchased a new stake in Veralto in the fourth quarter worth about $538,324,000. Brown Advisory Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $528,018,000. Impax Asset Management Group plc purchased a new position in shares of Veralto during the fourth quarter valued at approximately $347,827,000. Finally, Norges Bank purchased a new position in shares of Veralto during the fourth quarter valued at approximately $266,143,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Veralto in a report on Monday, June 17th. They set a “hold” rating and a $95.00 target price for the company. BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. Citigroup boosted their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. BMO Capital Markets lifted their target price on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.00.

Veralto Stock Down 0.8 %

NYSE:VLTO traded down $0.84 during mid-day trading on Tuesday, hitting $98.91. 1,196,741 shares of the stock traded hands, compared to its average volume of 1,556,757. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58. The firm’s 50 day moving average is $97.46 and its two-hundred day moving average is $88.13. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that Veralto Co. will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.36%.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Veralto news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Veralto 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.