Veralto (NYSE:VLTO) CAO Bernard Skeete Sells 1,514 Shares of Stock

Veralto Corporation (NYSE:VLTO) CAO Bernard Skeete sold 1,514 shares of Veralto stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $112.58, for a total value of $170,446.12. Following the completion of the sale, the chief accounting officer directly owned 4,760 shares in the company, valued at approximately $535,880.80. This represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Veralto Trading Up 0.6%

NYSE VLTO opened at $117.07 on Thursday. The stock has a market capitalization of $28.46 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 3.22 and a beta of 0.51. The stock’s 50 day moving average price is $99.27 and its two-hundred day moving average price is $93.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.61 and a current ratio of 2.03. Veralto Corporation has a 52 week low of $80.03 and a 52 week high of $118.41.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. Veralto had a return on equity of 35.08% and a net margin of 17.27%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The business’s revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Veralto’s dividend payout ratio is presently 12.87%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VLTO. Lido Advisors LLC lifted its holdings in shares of Veralto by 3.2% during the third quarter. Lido Advisors LLC now owns 25,377 shares of the company’s stock worth $2,394,000 after buying an additional 798 shares in the last quarter. New York Life Investment Management LLC grew its stake in shares of Veralto by 0.7% in the third quarter. New York Life Investment Management LLC now owns 39,636 shares of the company’s stock valued at $3,738,000 after acquiring an additional 288 shares in the last quarter. Welch & Forbes LLC acquired a new position in shares of Veralto in the third quarter valued at about $754,000. M&G PLC increased its position in Veralto by 265.0% during the third quarter. M&G PLC now owns 826,232 shares of the company’s stock worth $77,666,000 after acquiring an additional 599,850 shares during the period. Finally, AlphaCore Capital LLC bought a new position in Veralto during the third quarter worth about $301,000. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VLTO has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Veralto from $113.00 to $132.00 and gave the company a “buy” rating in a research report on Monday. 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 price target on the stock. Royal Bank Of Canada increased their price target on shares of Veralto from $109.00 to $121.00 and gave the company a “sector perform” rating in a research note on Monday. BNP Paribas Exane restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Veralto in a research note on Thursday, July 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 target price on shares of Veralto in a report on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.70.

Veralto Company Profile

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.