Veralto Co. (NYSE:VLTO) Stake Reduced by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC trimmed its stake in Veralto Co. (NYSE:VLTO) by 6.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,310 shares of the company’s stock after selling 223 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Veralto were worth $370,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Veralto during the 4th quarter valued at about $238,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Veralto in the 4th quarter valued at approximately $1,544,000. Integrated Advisors Network LLC bought a new stake in Veralto during the 4th quarter valued at $371,000. Centaurus Financial Inc. acquired a new position in Veralto during the 4th quarter worth $155,000. Finally, American International Group Inc. bought a new position in shares of Veralto in the fourth quarter worth $5,272,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO stock opened at $113.29 on Tuesday. Veralto Co. has a one year low of $65.51 and a one year high of $114.18. The firm has a 50-day moving average of $110.05 and a two-hundred day moving average of $101.46. The firm has a market capitalization of $27.97 billion and a PE ratio of 35.51. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business posted $0.80 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. Veralto’s payout ratio is presently 11.29%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VLTO. TD Cowen upped their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird increased their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.67.

Insider Activity

In related news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock worth $4,310,335 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Veralto Company 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.