Veralto Corporation (NYSE:VLTO) Stock Position Lowered by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. lessened its position in Veralto Corporation (NYSE:VLTO) by 20.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,800 shares of the company’s stock after selling 4,200 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Veralto were worth $1,637,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Veralto by 16.1% in the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company’s stock valued at $352,000 after buying an additional 479 shares during the period. Proficio Capital Partners LLC acquired a new position in Veralto in the 4th quarter valued at approximately $84,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 buying an additional 117 shares during the period. Corient Private Wealth LLC increased its stake in Veralto by 18.0% in the 4th quarter. Corient Private Wealth LLC now owns 136,551 shares of the company’s stock valued at $13,908,000 after buying an additional 20,798 shares during the period. Finally, Cibc World Markets Corp increased its stake in Veralto by 16.2% in the 4th quarter. Cibc World Markets Corp now owns 38,987 shares of the company’s stock valued at $3,971,000 after buying an additional 5,430 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 10,418 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the sale, the chief executive officer directly owned 106,219 shares in the company, valued at approximately $10,090,805. The trade was a 8.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the transaction, the senior vice president directly owned 13,571 shares of the company’s stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,913 shares of company stock valued at $4,339,370 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Stifel Nicolaus raised their price target on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Northcoast Research initiated coverage on Veralto in a research note on Tuesday, May 6th. They set a “buy” rating and a $110.00 price target for the company. Finally, Robert W. Baird increased their price objective on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto currently has an average rating of “Hold” and an average price target of $110.09.

Veralto Stock Performance

Veralto stock traded up $0.18 during mid-day trading on Friday, reaching $103.16. The company had a trading volume of 139,333 shares, compared to its average volume of 1,395,476. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. Veralto Corporation has a 52 week low of $83.87 and a 52 week high of $115.00. The company has a 50 day moving average of $100.48 and a 200-day moving average of $98.44. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 4.03 and a beta of 0.91.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto’s dividend payout ratio is presently 12.57%.

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.