Veralto Corporation (NYSE:VLTO) Shares Sold by NBW Capital LLC

Key Points

• NBW Capital LLC has reduced its holdings in Veralto Corporation (NYSE:VLTO) by 21.5%, now owning 31,681 shares worth approximately $3.09 million.
• Veralto reported earnings of $0.93 per share, exceeding analysts' expectations of $0.89, along with a revenue increase of 6.4% year-over-year to $1.37 billion.
• The company has declared a quarterly dividend of $0.11 per share, with an annualized dividend yield of 0.4% and a dividend payout ratio of 12.29%.

NBW Capital LLC cut its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 21.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,681 shares of the company's stock after selling 8,690 shares during the quarter. NBW Capital LLC's holdings in Veralto were worth $3,087,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Baldwin Investment Management LLC raised its position in Veralto by 3.4% in the first quarter. Baldwin Investment Management LLC now owns 3,219 shares of the company's stock valued at $314,000 after purchasing an additional 106 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Veralto by 1.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock worth $652,000 after acquiring an additional 110 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Veralto by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock valued at $856,000 after acquiring an additional 113 shares during the last quarter. Phoenix Financial Ltd. lifted its holdings in Veralto by 2.9% in the 1st quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company's stock worth $454,000 after buying an additional 132 shares during the period. Finally, Argent Trust Co boosted its stake in Veralto by 1.8% during the first quarter. Argent Trust Co now owns 8,096 shares of the company's stock worth $789,000 after acquiring an additional 140 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on VLTO. Wolfe Research upgraded Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Robert W. Baird raised their price target on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Finally, Citigroup dropped their price objective 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Veralto Price Performance

Shares of NYSE VLTO traded up $0.19 during mid-day trading on Friday, hitting $107.73. 522,953 shares of the company's stock traded hands, compared to its average volume of 1,359,846. The company's 50-day moving average is $101.78 and its two-hundred day moving average is $98.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The company has a market capitalization of $26.73 billion, a P/E ratio of 30.09, a PEG ratio of 3.55 and a beta of 0.91. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company posted $0.85 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 30th. Veralto's dividend payout ratio is 12.29%.

Insider Buying and Selling

In other news, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the transaction, the senior vice president directly owned 13,571 shares of the company's stock, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 848 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the transaction, the senior vice president directly owned 8,433 shares in the company, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,806 shares of company stock valued at $381,351 in the last ninety days. 0.36% of the stock is owned by company insiders.

About Veralto

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.