Eastern Bank Buys Shares of 79,559 Veralto Co. (NYSE:VLTO)

Eastern Bank purchased a new position in shares of Veralto Co. (NYSE:VLTO - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 79,559 shares of the company's stock, valued at approximately $8,900,000.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB bought a new stake in shares of Veralto during the 1st quarter worth approximately $237,864,000. Vanguard Group Inc. boosted its holdings in shares of Veralto by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company's stock worth $2,431,869,000 after buying an additional 1,568,103 shares during the period. Capital International Investors grew its holdings in shares of Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company's stock worth $629,232,000 after purchasing an additional 553,021 shares in the last quarter. Nordea Investment Management AB lifted its position in Veralto by 753.8% during the first quarter. Nordea Investment Management AB now owns 527,040 shares of the company's stock worth $47,154,000 after purchasing an additional 465,312 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in shares of Veralto during the 2nd quarter worth approximately $39,343,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Stock Down 1.1 %

NYSE VLTO traded down $1.28 during mid-day trading on Tuesday, reaching $111.79. The stock had a trading volume of 872,275 shares, compared to its average volume of 1,550,333. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The stock has a market cap of $27.60 billion and a PE ratio of 35.13. The company has a fifty day moving average price of $110.79 and a 200 day moving average price of $102.36. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $114.61.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.80 EPS. The business's quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts expect that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.32%. Veralto's dividend payout ratio (DPR) is presently 11.29%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Surekha Trivedi sold 753 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at $15,514,381.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock valued at $4,310,335 over the last ninety days. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on Veralto from $101.00 to $108.00 and gave the stock a "sector perform" rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on Veralto from $100.00 to $109.00 and gave the stock a "hold" rating in a report on Monday, July 29th. Robert W. Baird upped their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Finally, UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $108.00.

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.