Truist Financial Corp Purchases Shares of 140,725 Veralto Co. (NYSE:VLTO)

Truist Financial Corp acquired a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 140,725 shares of the company’s stock, valued at approximately $11,576,000. Truist Financial Corp owned 0.06% of Veralto at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sugarloaf Wealth Management LLC acquired a new position in Veralto during the fourth quarter worth approximately $25,000. First Command Advisory Services Inc. bought a new stake in Veralto in the 4th quarter valued at $25,000. Blue Trust Inc. acquired a new stake in Veralto during the 4th quarter valued at $26,000. Dougherty Wealth Advisers LLC bought a new position in Veralto during the fourth quarter worth $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Veralto in the fourth quarter valued at $27,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Veralto

In other news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the sale, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, the senior vice president now 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 owned by company insiders.

Veralto Stock Up 0.7 %

NYSE:VLTO opened at $94.38 on Thursday. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $95.56. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The stock’s 50-day simple moving average is $89.04 and its 200 day simple moving average is $80.84.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The firm’s revenue was up 1.7% on a year-over-year basis. Equities analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, March 27th.

Wall Street Analyst Weigh In

Several brokerages recently commented on VLTO. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price for the company. Argus started coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. Royal Bank of Canada boosted their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Stifel Nicolaus increased their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Robert W. Baird boosted their target price on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.18.

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.