Penobscot Investment Management Company Inc. Cuts Stake in Veralto Corporation $VLTO

Penobscot Investment Management Company Inc. decreased its holdings in shares of Veralto Corporation (NYSE:VLTO) by 3.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,987 shares of the company’s stock after selling 285 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Veralto were worth $907,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Veralto by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company’s stock valued at $2,897,916,000 after buying an additional 390,285 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Veralto by 8.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company’s stock worth $1,027,264,000 after acquiring an additional 811,843 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Veralto by 28.0% in the first quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company’s stock valued at $607,656,000 after purchasing an additional 1,363,502 shares during the period. Invesco Ltd. boosted its position in Veralto by 6.9% during the first quarter. Invesco Ltd. now owns 4,856,071 shares of the company’s stock worth $473,224,000 after purchasing an additional 314,704 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Veralto by 13.6% during the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company’s stock worth $415,074,000 after purchasing an additional 509,104 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the completion of the sale, the chief executive officer owned 106,219 shares in the company, valued at approximately $11,286,830.94. This trade represents a 9.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.

Veralto Stock Up 0.7%

Veralto stock opened at $107.25 on Friday. The firm has a 50 day moving average price of $106.65 and a 200-day moving average price of $100.74. The company has a market capitalization of $26.61 billion, a P/E ratio of 29.96, a P/E/G ratio of 3.53 and a beta of 0.90. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $115.00. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00.

Veralto (NYSE:VLTO) last issued its earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. As a group, equities analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Veralto’s dividend payout ratio (DPR) is presently 12.29%.

Analyst Upgrades and Downgrades

VLTO has been the subject of several analyst reports. Robert W. Baird upped their target price on Veralto from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Veralto in a report on Saturday, September 27th. Stifel Nicolaus set a $120.00 target price on Veralto and gave the company a “buy” rating in a report on Wednesday, July 30th. Raymond James Financial started coverage on Veralto in a report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Finally, Barclays initiated coverage on shares of Veralto in a research note on Friday, September 19th. They issued an “overweight” rating and a $120.00 target price for the company. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.57.

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.