Veralto (NYSE:VLTO) SVP Sells 5,146 Shares of Stock

Veralto Corporation (NYSE:VLTO) SVP Melissa Kapity sold 5,146 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $118.06, for a total transaction of $607,536.76. Following the sale, the senior vice president owned 14,715 shares of the company’s stock, valued at $1,737,252.90. This trade represents a 25.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Veralto Price Performance

VLTO stock traded down $1.33 during trading on Thursday, hitting $117.44. 1,816,962 shares of the stock traded hands, compared to its average volume of 1,983,353. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 3.28 and a beta of 0.51. Veralto Corporation has a one year low of $80.03 and a one year high of $119.70. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. The company has a 50 day simple moving average of $101.22 and a 200 day simple moving average of $93.74.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.09. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. Equities analysts expect that Veralto Corporation will post 4.51 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a $0.13 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s dividend payout ratio (DPR) is 12.87%.

Institutional Trading of Veralto

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its position in shares of Veralto by 79.0% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,159 shares of the company’s stock worth $392,000 after buying an additional 1,835 shares during the period. First Trust Advisors LP raised its stake in shares of Veralto by 6.6% during the third quarter. First Trust Advisors LP now owns 8,728,172 shares of the company’s stock worth $823,241,000 after buying an additional 537,985 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Veralto by 3.1% during the third quarter. Edgewood Management LLC now owns 15,150 shares of the company’s stock worth $1,429,000 after buying an additional 450 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in Veralto in the third quarter valued at approximately $37,000. Finally, TIAA CREF Individual & Institutional Services LLC acquired a new position in Veralto in the third quarter valued at approximately $96,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on VLTO shares. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price target on shares of Veralto in a research report on Friday, October 30th. Barclays raised their price objective on shares of Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Citigroup boosted their target price on shares of Veralto from $107.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Wolfe Research assumed coverage on shares of Veralto in a research report on Tuesday, September 15th. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Wall Street Zen cut shares of Veralto from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.70.

Veralto Company Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.