IMS Capital Management Lowers Stock Holdings in Veralto Co. (NYSE:VLTO)

IMS Capital Management trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 21.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,558 shares of the company’s stock after selling 693 shares during the period. IMS Capital Management’s holdings in Veralto were worth $227,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VLTO. Blue Trust Inc. bought a new stake in shares of Veralto during the fourth quarter valued at approximately $26,000. First Command Advisory Services Inc. purchased a new position in shares of Veralto during the 4th quarter valued at $25,000. LRI Investments LLC purchased a new position in shares of Veralto during the 1st quarter valued at $30,000. Delta Asset Management LLC TN lifted its stake in shares of Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 216 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Veralto during the 4th quarter valued at $27,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Trading Down 1.7 %

NYSE:VLTO traded down $1.86 on Friday, hitting $104.84. The stock had a trading volume of 1,698,801 shares, compared to its average volume of 1,388,023. The company has a quick ratio of 1.56, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The stock has a market cap of $25.91 billion and a price-to-earnings ratio of 32.24. The company has a fifty day moving average price of $99.58 and a two-hundred day moving average price of $92.15. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $107.86.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, June 28th.

Insider Buying and Selling

In other news, insider Jennifer Honeycutt 13,191 shares of Veralto stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jennifer Honeycutt 13,191 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The disclosure for this sale can be found here. Insiders sold a total of 4,055 shares of company stock worth $428,345 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VLTO shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen increased their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets increased their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.33.

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.