Veralto Corporation (NYSE:VLTO) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 55.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,267 shares of the company's stock after selling 18,665 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Veralto were worth $1,488,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of VLTO. Brighton Jones LLC boosted its position in shares of Veralto by 16.1% during the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock valued at $352,000 after purchasing an additional 479 shares in the last quarter. Allworth Financial LP boosted its position in shares of Veralto by 19.4% during the 4th quarter. Allworth Financial LP now owns 622 shares of the company's stock valued at $64,000 after purchasing an additional 101 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Veralto by 1.9% during the 4th quarter. Sanctuary Advisors LLC now owns 15,993 shares of the company's stock valued at $1,661,000 after purchasing an additional 293 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Veralto by 26.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 5,339 shares of the company's stock valued at $544,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Veralto by 5.3% during the 4th quarter. Global Retirement Partners LLC now owns 4,579 shares of the company's stock valued at $466,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Northcoast Research initiated coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Royal Bank Of Canada raised their price objective on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, 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 report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $110.09.

Veralto Stock Performance

VLTO stock opened at $98.45 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. The stock has a market cap of $24.40 billion, a P/E ratio of 28.13, a P/E/G ratio of 4.16 and a beta of 0.97. The firm has a 50 day simple moving average of $97.06 and a 200 day simple moving average of $98.60. Veralto Corporation has a 52 week low of $83.87 and a 52 week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Research analysts anticipate that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio is currently 12.57%.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 590 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total transaction of $57,259.50. Following the completion of the sale, the senior vice president now directly owns 10,011 shares in the company, valued at approximately $971,567.55. This trade represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 10,418 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer now directly owns 106,219 shares in the company, valued at approximately $10,090,805. The trade was a 8.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,503 shares of company stock worth $4,396,629. 0.36% of the stock is owned by company insiders.

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.

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