Insider Selling: Veralto (NYSE:VLTO) CAO Sells $170,446.12 in Stock

Veralto Corporation (NYSE:VLTO) CAO Bernard Skeete sold 1,514 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer owned 4,760 shares of the company’s stock, valued at $535,880.80. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Veralto Stock Performance

Shares of NYSE VLTO opened at $117.06 on Friday. The business’s 50-day simple moving average is $100.00 and its 200-day simple moving average is $93.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.61 and a current ratio of 2.03. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 3.21 and a beta of 0.51. Veralto Corporation has a 52 week low of $80.03 and a 52 week high of $119.03.

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

Veralto Announces Dividend

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 $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 30th. Veralto’s dividend payout ratio is 12.87%.

Hedge Funds Weigh In On Veralto

Large investors have recently made changes to their positions in the stock. Allworth Financial LP grew its position in shares of Veralto by 12.5% in the third quarter. Allworth Financial LP now owns 2,191 shares of the company’s stock valued at $194,000 after purchasing an additional 244 shares during the period. Fifth Third Bancorp bought a new position in Veralto during the third quarter worth $6,191,000. Banyan Capital Management Inc. bought a new stake in shares of Veralto during the 3rd quarter valued at $252,000. Magnolia Group LLC bought a new stake in shares of Veralto during the third quarter valued at approximately $3,961,000. Finally, Maryland State Retirement & Pension System boosted its stake in Veralto by 15.4% during the third quarter. Maryland State Retirement & Pension System now owns 14,946 shares of the company’s stock valued at $1,410,000 after buying an additional 1,991 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VLTO has been the subject of a number of research reports. Barclays raised their price objective on Veralto from $117.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Wolfe Research began coverage on Veralto in a research note on Tuesday, September 15th. They set an “outperform” rating and a $125.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and issued a $135.00 price target on shares of Veralto in a report on Friday, October 30th. Robert W. Baird set a $111.00 price target on shares of Veralto in a research note on Thursday, July 30th. Finally, Citigroup increased their target price on Veralto from $107.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.70.

About Veralto

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.