Commerce Bank Has $3.88 Million Holdings in Veralto Co. (NYSE:VLTO)

Commerce Bank trimmed its stake in shares of Veralto Co. (NYSE:VLTO) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,686 shares of the company’s stock after selling 2,296 shares during the period. Commerce Bank’s holdings in Veralto were worth $3,880,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after buying an additional 200,657 shares during the last quarter. Swedbank AB lifted its stake in shares of Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after acquiring an additional 132,105 shares during the period. Clearbridge Investments LLC boosted its holdings in Veralto by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after acquiring an additional 24,246 shares during the last quarter. Principal Financial Group Inc. increased its position in Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares during the period. Finally, abrdn plc raised its holdings in Veralto by 4.2% during the 3rd quarter. abrdn plc now owns 1,090,949 shares of the company’s stock worth $121,052,000 after purchasing an additional 43,945 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is owned by insiders.

Veralto Stock Performance

Shares of VLTO stock opened at $106.41 on Friday. The company has a market capitalization of $26.32 billion and a P/E ratio of 32.84. Veralto Co. has a 52 week low of $72.23 and a 52 week high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company’s 50 day moving average price is $108.11 and its two-hundred day moving average price is $104.40.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. On average, analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is presently 11.11%.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several analyst reports. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price target on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Finally, Robert W. Baird raised their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Veralto presently has a consensus rating of “Hold” and an average price target of $108.27.

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.