Veralto Corporation (NYSE:VLTO) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC trimmed its stake in shares of Veralto Corporation (NYSE:VLTO) by 7.1% in the 1st quarter, HoldingsChannel reports. The firm owned 23,296 shares of the company’s stock after selling 1,785 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Veralto were worth $2,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in shares of Veralto during the 4th quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new position in shares of Veralto during the 4th quarter worth about $43,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Veralto during the 4th quarter worth about $44,000. Opal Wealth Advisors LLC acquired a new position in shares of Veralto during the 1st quarter worth about $45,000. Finally, Grove Bank & Trust boosted its position in shares of Veralto by 198.2% during the 1st quarter. Grove Bank & Trust now owns 510 shares of the company’s stock worth $50,000 after acquiring an additional 339 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Performance

VLTO opened at $100.96 on Wednesday. The stock’s 50 day simple moving average is $100.28 and its 200 day simple moving average is $98.42. The stock has a market cap of $25.02 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.09 and a beta of 0.91. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.19 and a quick ratio of 1.92. Veralto Corporation has a 1-year low of $83.87 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Veralto Corporation 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 Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, June 30th. Veralto’s dividend payout ratio (DPR) is presently 12.57%.

Insider Buying and Selling at Veralto

In other news, SVP Lesley Beneteau sold 458 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president directly owned 13,571 shares in the company, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 848 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the transaction, the senior vice president directly owned 8,433 shares of the company’s stock, valued at $847,938.15. This represents a 9.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,913 shares of company stock valued at $4,339,370. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Northcoast Research assumed coverage on Veralto in a research report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price for the company. Robert W. Baird upped their price objective on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Royal Bank Of Canada upped their price objective on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Finally, Citigroup reduced their price objective 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus target price 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.