Cetera Investment Advisers Sells 3,454 Shares of Veralto Corporation (NYSE:VLTO)

Key Points

• Cetera Investment Advisers has reduced its stake in Veralto Corporation by 6.4%, now holding shares valued at $4.96 million.
• Veralto reported a quarterly earnings per share of $0.93, surpassing analysts' expectations, with revenue increasing by 6.4% compared to the same period last year.
• Several analysts have recently adjusted their price targets for Veralto, with a consensus target price of $114.00 and ratings ranging from "hold" to "buy."

Cetera Investment Advisers reduced its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,880 shares of the company's stock after selling 3,454 shares during the quarter. Cetera Investment Advisers' holdings in Veralto were worth $4,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLTO. Brighton Jones LLC raised its holdings in Veralto by 16.1% in the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock worth $352,000 after acquiring an additional 479 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Veralto by 10.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,053 shares of the company's stock worth $1,126,000 after acquiring an additional 1,032 shares during the last quarter. Wellington Management Group LLP raised its holdings in Veralto by 7.5% in the 4th quarter. Wellington Management Group LLP now owns 563,102 shares of the company's stock worth $57,352,000 after acquiring an additional 39,342 shares during the last quarter. World Investment Advisors raised its holdings in Veralto by 56.7% in the 4th quarter. World Investment Advisors now owns 2,827 shares of the company's stock worth $288,000 after acquiring an additional 1,023 shares during the last quarter. Finally, Prudential PLC raised its stake in Veralto by 0.9% during the 4th quarter. Prudential PLC now owns 121,817 shares of the company's stock valued at $12,407,000 after buying an additional 1,072 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Insider Activity

In related news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total transaction of $85,266.40. Following the transaction, the senior vice president owned 8,433 shares in the company, valued at $847,938.15. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $99.96, for a total transaction of $249,900.00. Following the sale, the senior vice president owned 32,430 shares of the company's stock, valued at $3,241,702.80. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,806 shares of company stock worth $381,351. Corporate insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Northcoast Research initiated coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Stifel Nicolaus set a $120.00 price objective on Veralto and gave the company a "buy" rating in a report on Wednesday, July 30th. Robert W. Baird lifted their target price on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Citigroup decreased their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Wolfe Research upgraded shares of Veralto from a "hold" rating to an "outperform" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Veralto currently has a consensus rating of "Moderate Buy" and an average target price of $114.00.

Veralto Price Performance

Veralto stock traded up $0.66 during midday trading on Wednesday, hitting $107.22. The company's stock had a trading volume of 291,327 shares, compared to its average volume of 1,396,247. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $26.61 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $115.00. The stock's 50-day moving average price is $101.39 and its 200-day moving average price is $98.63.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business's quarterly revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 30th. Veralto's dividend payout ratio (DPR) is presently 12.29%.

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.