Apollon Wealth Management LLC Sells 1,379 Shares of Veralto Corporation (NYSE:VLTO)

Apollon Wealth Management LLC cut its stake in shares of Veralto Corporation (NYSE:VLTO) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,507 shares of the company’s stock after selling 1,379 shares during the period. Apollon Wealth Management LLC’s holdings in Veralto were worth $829,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Park Avenue Securities LLC lifted its holdings in Veralto by 11.5% during the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company’s stock worth $1,872,000 after buying an additional 1,985 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Veralto by 1.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company’s stock valued at $856,000 after buying an additional 113 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Veralto by 9.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 26,833 shares of the company’s stock valued at $2,619,000 after purchasing an additional 2,313 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Veralto by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company’s stock worth $1,417,000 after buying an additional 429 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Veralto by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company’s stock worth $287,000 after purchasing an additional 333 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 10,418 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer owned 106,219 shares of the company’s stock, valued at approximately $10,090,805. The trade was a 8.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president owned 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,913 shares of company stock valued at $4,339,370. 0.36% of the stock is currently owned by company insiders.

Veralto Trading Up 2.5%

Shares of VLTO opened at $102.99 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The business’s 50-day moving average price is $100.48 and its 200-day moving average price is $98.44. The stock has a market cap of $25.53 billion, a PE ratio of 29.43, a P/E/G ratio of 4.03 and a beta of 0.91. Veralto Corporation has a twelve month low of $83.87 and a twelve month high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

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

Analysts Set New Price Targets

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

Veralto 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.