Insider Selling: Veralto Co. (NYSE:VLTO) SVP Sells $46,184.72 in Stock

Veralto Co. (NYSE:VLTO) SVP Lesley Beneteau sold 458 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the transaction, the senior vice president now directly owns 13,571 shares in the company, valued at $1,368,499.64. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Veralto Stock Performance

NYSE:VLTO opened at $101.67 on Monday. The stock has a market capitalization of $25.20 billion, a P/E ratio of 30.44, a P/E/G ratio of 4.24 and a beta of 0.99. The stock has a 50-day moving average price of $94.40 and a 200 day moving average price of $99.64. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a 12-month low of $83.87 and a 12-month high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Equities research analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto’s dividend payout ratio is presently 12.57%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup decreased their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus raised their price objective on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Robert W. Baird raised their price objective on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Royal Bank of Canada raised their price objective on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Finally, Northcoast Research started coverage on Veralto in a research note on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.09.

Hedge Funds Weigh In On Veralto

Several institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Veralto by 20.4% during the 1st quarter. Empowered Funds LLC now owns 4,551 shares of the company’s stock valued at $443,000 after buying an additional 770 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Veralto in the 1st quarter worth approximately $315,000. United Services Automobile Association purchased a new position in shares of Veralto in the 1st quarter worth approximately $523,000. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Veralto by 3.6% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,883 shares of the company’s stock worth $378,000 after purchasing an additional 134 shares during the period. Finally, Voleon Capital Management LP boosted its holdings in shares of Veralto by 56.8% in the 1st quarter. Voleon Capital Management LP now owns 104,166 shares of the company’s stock worth $10,151,000 after purchasing an additional 37,726 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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.