77,039 Veralto Corporation $VLTO Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Veralto stake by 27.8% in the third quarter, selling 77,039 shares. It retained 200,554 shares worth about $19 million; institutional investors overall own 91.28% of the stock.
• Veralto reported quarterly earnings of $1.18 per share, beating the $1.09 estimate, while revenue of $1.51 billion topped forecasts and rose 7.5% year over year.
• Analysts give Veralto a “Moderate Buy” consensus rating and an average price target of $120.70. Shares opened at $117.06, near the reported 52-week high of $119.03.

Candriam S.C.A. trimmed its position in Veralto Corporation (NYSE:VLTO - Free Report) by 27.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 200,554 shares of the company's stock after selling 77,039 shares during the period. Candriam S.C.A. owned about 0.08% of Veralto worth $18,985,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Ethic Inc. boosted its stake in shares of Veralto by 59.6% in the 3rd quarter. Ethic Inc. now owns 44,897 shares of the company's stock valued at $4,235,000 after purchasing an additional 16,770 shares during the last quarter. Pictet Asset Management Holding SA raised its stake 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 worth $309,946,000 after buying an additional 255,749 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Veralto by 6.1% during the third quarter. Parallel Advisors LLC now owns 3,800 shares of the company's stock worth $358,000 after buying an additional 219 shares during the last quarter. Calamos Advisors LLC lifted its holdings in Veralto by 2.0% in the third quarter. Calamos Advisors LLC now owns 48,438 shares of the company's stock valued at $4,569,000 after buying an additional 970 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Veralto by 36.3% in the third quarter. Kestra Private Wealth Services LLC now owns 15,475 shares of the company's stock valued at $1,460,000 after buying an additional 4,125 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Veralto from $117.00 to $129.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Weiss Ratings upgraded Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. Wall Street Zen cut Veralto from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. UBS Group lifted their price objective on Veralto from $104.00 to $106.00 and gave the stock a "neutral" rating in a research note on Monday, October 5th. Finally, Robert W. Baird set a $111.00 price objective on Veralto in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Veralto presently has an average rating of "Moderate Buy" and a consensus price target of $120.70.

Veralto Stock Down 0.0%

Shares of NYSE VLTO opened at $117.06 on Monday. Veralto Corporation has a 52-week low of $80.03 and a 52-week high of $119.03. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.82 and a current ratio of 2.03. The stock has a market cap of $28.46 billion, a P/E ratio of 28.97, a P/E/G ratio of 3.25 and a beta of 0.51. The firm has a 50 day moving average price of $100.00 and a 200 day moving average price of $93.49.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.09. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. Analysts expect that Veralto Corporation will post 4.51 EPS for the current year.

Veralto Dividend Announcement

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

Insider Activity

In related news, CAO Bernard M. Skeete sold 1,514 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $112.58, for a total transaction of $170,446.12. Following the sale, the chief accounting officer owned 4,760 shares of the company's stock, valued at approximately $535,880.80. This trade represents a 24.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 7,098 shares of the firm's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $105.00, for a total value of $745,290.00. Following the sale, the chief executive officer directly owned 120,060 shares in the company, valued at $12,606,300. The trade was a 5.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 55,094 shares of company stock worth $6,032,688 in the last 90 days. Corporate insiders own 0.43% of the company's stock.

Veralto Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging.

Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.

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