OLD National Bancorp IN Cuts Position in Veralto Co. (NYSE:VLTO)

OLD National Bancorp IN trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 40.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,393 shares of the company’s stock after selling 1,646 shares during the period. OLD National Bancorp IN’s holdings in Veralto were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VLTO. Goodman Advisory Group LLC purchased a new stake in Veralto during the 2nd quarter valued at about $26,000. Fairscale Capital LLC bought a new position in shares of Veralto in the second quarter worth approximately $30,000. LRI Investments LLC purchased a new stake in shares of Veralto during the first quarter valued at approximately $30,000. Hazlett Burt & Watson Inc. increased its position in shares of Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Veralto in the 2nd quarter worth approximately $43,000. 91.28% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock worth $4,310,335 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Down 0.8 %

NYSE VLTO opened at $110.93 on Thursday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $114.61. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The stock has a market cap of $27.38 billion and a PE ratio of 34.77. The stock’s 50 day moving average is $110.91 and its 200 day moving average is $102.60.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. Research analysts predict that Veralto Co. will post 3.46 EPS for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

VLTO has been the topic of several recent analyst reports. BMO Capital Markets increased 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. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. TD Cowen lifted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.00.

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.