Wendell David Associates Inc. Sells 190 Shares of Veralto Co. (NYSE:VLTO)

Wendell David Associates Inc. lessened its holdings in Veralto Co. (NYSE:VLTO) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,869 shares of the company’s stock after selling 190 shares during the period. Wendell David Associates Inc.’s holdings in Veralto were worth $1,157,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of Veralto by 19.4% in the fourth quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after buying an additional 101 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Veralto by 1.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company’s stock valued at $652,000 after acquiring an additional 110 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Veralto by 4.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company’s stock valued at $302,000 after acquiring an additional 117 shares in the last quarter. O Brien Greene & Co. Inc lifted its holdings in Veralto by 0.3% in the 4th quarter. O Brien Greene & Co. Inc now owns 57,834 shares of the company’s stock worth $5,890,000 after purchasing an additional 145 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Veralto by 3.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,999 shares of the company’s stock worth $407,000 after purchasing an additional 148 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Up 0.3%

Shares of VLTO opened at $97.62 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The company has a 50-day simple moving average of $96.36 and a 200-day simple moving average of $98.93. Veralto Co. has a 52 week low of $83.87 and a 52 week high of $115.00. The firm has a market capitalization of $24.20 billion, a P/E ratio of 29.23, a P/E/G ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto’s dividend payout ratio is currently 12.57%.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now directly owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total value of $57,259.50. Following the completion of the transaction, the senior vice president now directly owns 10,011 shares of the company’s stock, valued at approximately $971,567.55. The trade was a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,917 shares of company stock valued at $5,423,033 in the last 90 days. 0.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price on the stock. Robert W. Baird boosted their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Stifel Nicolaus raised their price target on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Citigroup decreased their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Veralto has an average rating of “Hold” and an average price target of $110.09.

Veralto 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.