Mutual of America Capital Management LLC Cuts Stock Position in Veralto Co. (NYSE:VLTO)

Mutual of America Capital Management LLC decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 4.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 59,501 shares of the company’s stock after selling 2,896 shares during the period. Mutual of America Capital Management LLC’s holdings in Veralto were worth $6,656,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the third quarter worth about $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the 2nd quarter worth approximately $26,000. LRI Investments LLC purchased a new position in Veralto in the 1st quarter worth approximately $30,000. Fairscale Capital LLC acquired a new stake in Veralto in the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. raised its stake 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 purchasing an additional 333 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 1.1 %

Veralto stock opened at $103.98 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a 1 year low of $70.47 and a 1 year high of $115.00. The firm’s 50-day moving average is $108.44 and its 200-day moving average is $104.26. The company has a market cap of $25.72 billion and a P/E ratio of 32.09.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, equities analysts expect that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s payout ratio is 11.11%.

Insider Activity

In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several analyst reports. Stifel Nicolaus upped their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen upped their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $108.27.

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.