Veralto (NYSE:VLTO) Stock: Insider Melissa Kapity Sells 5,146 Shares

Key Points

• Insider sale: SVP Melissa Kapity sold 5,146 shares at an average $118.06, worth about $607,537, reducing her stake by 25.91% to 14,715 shares.
• Quarterly results beat estimates: Veralto reported EPS of $1.18 versus analysts’ $1.09 estimate and revenue of $1.51 billion, up 7.5% year over year.
• Analyst outlook remains positive: The stock has a “Moderate Buy” consensus rating and an average price target of $120.70; shares recently traded at $117.44.

Veralto Corporation (NYSE:VLTO - Get Free Report) SVP Melissa Kapity sold 5,146 shares of the firm's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $118.06, for a total transaction of $607,536.76. Following the completion of the sale, the senior vice president owned 14,715 shares in the company, valued at approximately $1,737,252.90. The trade was a 25.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Veralto Stock Performance

VLTO stock traded down $1.33 on Thursday, reaching $117.44. 1,816,962 shares of the company were exchanged, compared to its average volume of 1,983,353. Veralto Corporation has a 12 month low of $80.03 and a 12 month high of $119.70. The stock's fifty day moving average price is $101.22 and its 200 day moving average price is $93.74. The firm has a market capitalization of $28.55 billion, a PE ratio of 29.07, a PEG ratio of 3.28 and a beta of 0.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.82.

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

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Veralto's dividend payout ratio (DPR) is 12.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas Exane restated an "outperform" rating and set a $120.00 price target (up from $115.00) on shares of Veralto in a research note on Thursday, July 30th. Robert W. Baird set a $111.00 price objective on Veralto in a research report on Thursday, July 30th. Stifel Nicolaus lifted their price objective on Veralto from $113.00 to $132.00 and gave the stock a "buy" rating in a report on Monday, November 2nd. Citigroup boosted their price objective on Veralto from $107.00 to $120.00 and gave the company a "neutral" rating in a research report on Monday, November 2nd. Finally, Barclays upped their target price on Veralto from $117.00 to $129.00 and gave the company an "overweight" rating in a research note on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $120.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. lifted its position in shares of Veralto by 79.0% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,159 shares of the company's stock worth $392,000 after buying an additional 1,835 shares during the period. First Trust Advisors LP grew its position in Veralto by 6.6% in the third quarter. First Trust Advisors LP now owns 8,728,172 shares of the company's stock valued at $823,241,000 after acquiring an additional 537,985 shares during the period. Edgewood Management LLC raised its stake in Veralto by 3.1% during the third quarter. Edgewood Management LLC now owns 15,150 shares of the company's stock worth $1,429,000 after acquiring an additional 450 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in Veralto during the third quarter worth $37,000. Finally, TIAA CREF Individual & Institutional Services LLC acquired a new position in Veralto during the third quarter worth $96,000. Institutional investors own 91.28% of the company's stock.

Veralto Company Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.

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