Veralto Corporation $VLTO Stake Cut by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Veralto stake by 4.6% in the third quarter, selling 35,710 shares. It retained 742,957 shares, valued at about $70.1 million.
• Veralto beat quarterly earnings expectations, reporting EPS of $1.18 versus a $1.09 consensus and revenue of $1.51 billion, up 7.5% year over year.
• Analysts’ average rating is “Moderate Buy”, with a $120.70 average price target. Insiders sold 46,025 shares worth nearly $5.0 million over the past 90 days.

Boston Trust Walden Corp lessened its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,957 shares of the company's stock after selling 35,710 shares during the quarter. Boston Trust Walden Corp owned approximately 0.30% of Veralto worth $70,076,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new stake in shares of Veralto during the second quarter worth $32,000. Provenance Wealth Advisors LLC lifted its position in shares of Veralto by 997.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company's stock worth $40,000 after buying an additional 389 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Veralto in the 3rd quarter valued at about $42,000. Latitude Advisors LLC acquired a new position in shares of Veralto in the 3rd quarter valued at about $47,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Veralto in the 1st quarter valued at about $66,000. Institutional investors own 91.28% of the company's stock.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 7,098 shares of the business's stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $105.00, for a total transaction of $745,290.00. Following the completion of the transaction, the chief executive officer directly owned 120,060 shares of the company's stock, valued at $12,606,300. The trade was a 5.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Bernard M. Skeete sold 1,514 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $112.58, for a total transaction of $170,446.12. Following the transaction, the chief accounting officer directly owned 4,760 shares of the company's stock, valued at $535,880.80. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 46,025 shares of company stock worth $4,977,963 in the last ninety days. 0.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wolfe Research initiated coverage on shares of Veralto in a research report on Tuesday, September 15th. They set an "outperform" rating and a $125.00 price objective for the company. UBS Group raised their target price on shares of Veralto from $104.00 to $106.00 and gave the stock a "neutral" rating in a report on Monday, October 5th. Jefferies Financial Group restated a "buy" rating and issued a $135.00 target price on shares of Veralto in a research note on Friday, October 30th. Stifel Nicolaus lifted their target price on Veralto from $113.00 to $132.00 and gave the company a "buy" rating in a research note on Monday. Finally, Weiss Ratings raised Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Veralto presently has an average rating of "Moderate Buy" and an average price target of $120.70.

Veralto Price Performance

Shares of NYSE VLTO opened at $117.07 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.61. The firm has a market capitalization of $28.46 billion, a PE ratio of 28.98, a P/E/G ratio of 3.22 and a beta of 0.51. Veralto Corporation has a 1-year low of $80.03 and a 1-year high of $118.41. The business's fifty day moving average price is $99.27 and its two-hundred day moving average price is $93.34.

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

Veralto Announces Dividend

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 annualized dividend and a yield of 0.4%. Veralto's dividend payout ratio (DPR) is currently 12.87%.

About Veralto

Veralto Corporation NYSE: VLTO is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto's Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company's Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.

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