Commerce Bank Has $3.52 Million Holdings in Veralto Co. (NYSE:VLTO)

Commerce Bank decreased its position in Veralto Co. (NYSE:VLTO) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,535 shares of the company’s stock after selling 151 shares during the period. Commerce Bank’s holdings in Veralto were worth $3,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Veralto in the 4th quarter worth about $25,000. OFI Invest Asset Management purchased a new position in Veralto during the fourth quarter valued at approximately $26,000. BankPlus Trust Department purchased a new position in Veralto during the fourth quarter valued at approximately $29,000. Albion Financial Group UT increased its stake in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new stake in Veralto in the 4th quarter worth approximately $42,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada cut their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price objective on Veralto from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $111.10.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total transaction of $57,259.50. Following the sale, the senior vice president now owns 10,011 shares of the company’s stock, valued at approximately $971,567.55. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the transaction, the chief executive officer now owns 116,637 shares of the company’s stock, valued at $11,495,742.72. The trade was a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,471 shares of company stock valued at $2,234,030. 0.36% of the stock is owned by company insiders.

Veralto Price Performance

NYSE VLTO opened at $89.59 on Monday. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00. The company has a fifty day simple moving average of $95.86 and a 200 day simple moving average of $101.68. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The company has a market cap of $22.22 billion, a P/E ratio of 26.82, a P/E/G ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, sell-side analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.49%. Veralto’s payout ratio is 13.17%.

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.