Insider Selling: Veralto Co. (NYSE:VLTO) SVP Sells 590 Shares of Stock

Veralto Co. (NYSE:VLTO) SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the sale, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Veralto Stock Down 0.9 %

Shares of NYSE:VLTO traded down $0.95 during trading hours on Wednesday, reaching $99.70. The stock had a trading volume of 1,237,684 shares, compared to its average volume of 1,490,456. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm’s 50 day moving average is $101.28 and its 200-day moving average is $105.84. The stock has a market capitalization of $24.66 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 4.24 and a beta of 1.06. Veralto Co. has a 1 year low of $85.70 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Research analysts predict that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Wall Street Analyst Weigh In

Several research firms recently commented on VLTO. Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Citigroup reduced their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada reduced their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $112.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. PEAK6 Investments LLC lifted its holdings in shares of Veralto by 246.3% during the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after purchasing an additional 6,211 shares during the period. Nordea Investment Management AB lifted its stake in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after acquiring an additional 2,676 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock worth $18,259,000 after acquiring an additional 15,048 shares during the period. Finally, Czech National Bank raised its holdings in Veralto by 6.5% during the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after purchasing an additional 3,284 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

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.