Truist Financial Corp Has $8.50 Million Stake in Veralto Corporation $VLTO

Truist Financial Corp reduced its position in Veralto Corporation (NYSE:VLTO) by 14.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,711 shares of the company’s stock after selling 13,940 shares during the quarter. Truist Financial Corp’s holdings in Veralto were worth $8,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Advisors Inc. OK boosted its holdings in shares of Veralto by 6.3% during the 3rd quarter. Capital Advisors Inc. OK now owns 380,910 shares of the company’s stock valued at $40,609,000 after acquiring an additional 22,464 shares in the last quarter. Spire Wealth Management raised its position in Veralto by 1,579.5% in the third quarter. Spire Wealth Management now owns 12,311 shares of the company’s stock valued at $1,312,000 after purchasing an additional 11,578 shares during the last quarter. Defender Capital LLC. boosted its stake in shares of Veralto by 9.2% during the second quarter. Defender Capital LLC. now owns 172,870 shares of the company’s stock valued at $17,451,000 after purchasing an additional 14,586 shares in the last quarter. Compass Wealth Management LLC bought a new stake in shares of Veralto during the third quarter worth about $6,708,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Veralto by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,159,417 shares of the company’s stock worth $123,605,000 after purchasing an additional 94,607 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the subject of a number of research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price objective (down previously from $125.00) on shares of Veralto in a report on Wednesday, December 10th. UBS Group raised their price target on shares of Veralto from $110.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Barclays lifted their price target on shares of Veralto from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings downgraded Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 31st. Finally, Royal Bank Of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.89.

Insider Buying and Selling

In other Veralto news, SVP Mattias Bystrom sold 1,000 shares of Veralto stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.73, for a total value of $101,730.00. Following the completion of the sale, the senior vice president directly owned 31,430 shares in the company, valued at approximately $3,197,373.90. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by corporate insiders.

Veralto Price Performance

VLTO stock opened at $98.89 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.82 and a beta of 0.89. The company’s fifty day simple moving average is $100.88 and its 200 day simple moving average is $103.03. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $110.11.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.11. Veralto’s dividend payout ratio is currently 14.25%.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.