Jennifer Honeycutt Sells 10,414 Shares of Veralto Co. (NYSE:VLTO) Stock

Veralto Co. (NYSE:VLTO) CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This represents a 9.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Veralto Price Performance

Veralto stock opened at $99.70 on Thursday. The stock’s 50 day moving average is $101.25 and its 200 day moving average is $105.80. Veralto Co. has a one year low of $85.70 and a one year high of $115.00. The firm has a market cap of $24.66 billion, a P/E ratio of 29.85, a P/E/G ratio of 4.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, research analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Institutional Investors Weigh In On Veralto

Hedge funds have recently added to or reduced their stakes in the business. PEAK6 Investments LLC grew its stake in shares of Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock valued at $977,000 after buying an additional 6,211 shares during the period. Nordea Investment Management AB grew its stake in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Veralto by 18.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after acquiring an additional 2,676 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock worth $18,259,000 after purchasing an additional 15,048 shares during the period. Finally, Czech National Bank lifted its holdings in shares of Veralto by 6.5% in the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after purchasing an additional 3,284 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Citigroup decreased their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada dropped their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus reduced their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.55.

About Veralto

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.