Veralto Corporation $VLTO Position Lowered by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Veralto Corporation by 25.4%, selling 3,872 shares and holding a total of 11,395 shares valued at $1.15 million.
• CEO Jennifer Honeycutt sold 10,646 shares for over $1.13 million, resulting in a 9.11% decrease in her ownership of the company.
• Veralto's stock has a current consensus rating of "Moderate Buy" with an average target price of $113.43, despite a recent trading range between a 52-week low of $83.86 and a high of $115.00.

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 25.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,395 shares of the company's stock after selling 3,872 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Veralto were worth $1,150,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC lifted its position in shares of Veralto by 148.5% during the first quarter. Truvestments Capital LLC now owns 328 shares of the company's stock worth $32,000 after purchasing an additional 196 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Veralto during the second quarter worth about $51,000. Cloud Capital Management LLC bought a new position in shares of Veralto during the first quarter worth about $64,000. Marshall & Sullivan Inc. WA bought a new position in shares of Veralto during the second quarter worth about $74,000. Finally, IFP Advisors Inc lifted its position in shares of Veralto by 70.8% during the second quarter. IFP Advisors Inc now owns 750 shares of the company's stock worth $76,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the sale, the chief executive officer owned 106,219 shares in the company, valued at approximately $11,286,830.94. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VLTO. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada increased their price objective on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Raymond James Financial assumed coverage on shares of Veralto in a research note on Tuesday, August 26th. They set a "market perform" rating on the stock. Finally, Weiss Ratings upgraded shares of Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $113.43.

Veralto Price Performance

Shares of NYSE:VLTO opened at $102.88 on Friday. The firm's 50 day moving average is $106.06 and its two-hundred day moving average is $101.11. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00. The firm has a market capitalization of $25.53 billion, a P/E ratio of 28.74, a PEG ratio of 3.39 and a beta of 0.90. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.93 EPS 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $0.85 earnings per share. Veralto's revenue was up 6.4% compared to the same quarter last year. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. Analysts anticipate that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. Veralto's dividend payout ratio (DPR) is presently 12.29%.

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.

Want to see what other hedge funds are holding VLTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veralto Corporation (NYSE:VLTO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.