Veralto (NYSE:VLTO) SVP Sells 36,427 Shares of Stock

Veralto Corporation (NYSE:VLTO) SVP Surekha Trivedi sold 36,427 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $108.89, for a total transaction of $3,966,536.03. Following the completion of the transaction, the senior vice president directly owned 8,565 shares in the company, valued at approximately $932,642.85. This represents a 80.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Surekha Trivedi also recently made the following trade(s):

• On Monday, August 17th, Surekha Trivedi sold 986 shares of Veralto stock. The shares were sold at an average price of $97.05, for a total value of $95,691.30.

Veralto Stock Up 0.5%

NYSE VLTO traded up $0.62 during trading hours on Tuesday, hitting $116.32. The company had a trading volume of 2,451,647 shares, compared to its average volume of 1,984,175. The firm’s 50 day moving average is $98.56 and its 200 day moving average is $93.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.61. Veralto Corporation has a fifty-two week low of $80.03 and a fifty-two week high of $117.05. The company has a market capitalization of $28.36 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 2.91 and a beta of 0.62.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. Veralto had a return on equity of 34.76% and a net margin of 17.35%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts anticipate that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were issued a $0.13 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Veralto’s payout ratio is currently 12.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Robert W. Baird set a $111.00 price target on Veralto in a research report on Thursday, July 30th. Citigroup boosted their target price on shares of Veralto from $107.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday. Wolfe Research started coverage on shares of Veralto in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 price target on the stock. BNP Paribas Exane restated an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Veralto in a research report on Thursday, July 30th. Finally, UBS Group lifted their price target on shares of Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a report on Monday, October 5th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.70.

Institutional Trading of Veralto

Several hedge funds have recently made changes to their positions in the stock. Ethic Inc. increased its position in Veralto by 59.6% in the third quarter. Ethic Inc. now owns 44,897 shares of the company’s stock worth $4,235,000 after buying an additional 16,770 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Veralto by 8.4% during the third quarter. Pictet Asset Management Holding SA now owns 3,285,938 shares of the company’s stock valued at $309,946,000 after acquiring an additional 255,749 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Veralto by 6.1% during the third quarter. Parallel Advisors LLC now owns 3,800 shares of the company’s stock valued at $358,000 after acquiring an additional 219 shares during the period. Calamos Advisors LLC boosted its holdings in shares of Veralto by 2.0% during the third quarter. Calamos Advisors LLC now owns 48,438 shares of the company’s stock valued at $4,569,000 after acquiring an additional 970 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in shares of Veralto by 36.3% during the third quarter. Kestra Private Wealth Services LLC now owns 15,475 shares of the company’s stock worth $1,460,000 after acquiring an additional 4,125 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

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.