Park Place Capital Corp Lowers Stake in Veralto Co. (NYSE:VLTO)

Park Place Capital Corp lessened its position in shares of Veralto Co. (NYSE:VLTO) by 27.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 342 shares of the company’s stock after selling 129 shares during the period. Park Place Capital Corp’s holdings in Veralto were worth $30,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in VLTO. Orion Portfolio Solutions LLC acquired a new position in shares of Veralto during the fourth quarter worth about $3,202,000. Factory Mutual Insurance Co. acquired a new position in shares of Veralto during the fourth quarter worth about $9,260,000. State of Michigan Retirement System acquired a new position in shares of Veralto during the fourth quarter worth about $4,940,000. Dimensional Fund Advisors LP acquired a new position in shares of Veralto during the fourth quarter worth about $79,075,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Veralto during the fourth quarter worth about $25,633,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird boosted their price objective on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. BNP Paribas started coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. Finally, TD Cowen started coverage on Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Melissa Aquino sold 8,041 shares of the company’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 completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Veralto Price Performance

Shares of Veralto stock opened at $94.35 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $102.58. The business has a 50-day moving average price of $98.18 and a 200 day moving average price of $88.94.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Friday, June 28th.

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.