NBT Bank N A NY Trims Stake in Veralto Co. (NYSE:VLTO)

NBT Bank N A NY lowered its stake in shares of Veralto Co. (NYSE:VLTO) by 31.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,037 shares of the company’s stock after selling 945 shares during the period. NBT Bank N A NY’s holdings in Veralto were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its position in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after buying an additional 860,608 shares during the period. Amundi boosted its stake in Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company’s stock worth $731,084,000 after acquiring an additional 158,342 shares in the last quarter. Geode Capital Management LLC boosted its stake in Veralto by 10.5% during the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after acquiring an additional 558,393 shares in the last quarter. Nordea Investment Management AB boosted its stake in Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares in the last quarter. Finally, FMR LLC boosted its stake in Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after acquiring an additional 162,347 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock worth $1,150,366 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on VLTO. Stifel Nicolaus dropped their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada dropped their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group began coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Citigroup dropped their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.55.

Veralto Trading Down 3.2 %

Shares of NYSE VLTO opened at $97.07 on Wednesday. The firm’s 50 day moving average price is $100.56 and its 200-day moving average price is $105.13. The company has a market cap of $24.03 billion, a PE ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto Co. has a 52-week low of $85.90 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

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

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto’s dividend payout ratio (DPR) is 13.17%.

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.