Veralto (NYSE:VLTO) SVP Sells 9,069 Shares of Stock

Key Points

• SVP Mattias Byström sold 9,069 shares for about $1.05 million, reducing his direct ownership by 20.33% to 35,536 shares.
• Veralto beat quarterly earnings expectations, reporting EPS of $1.18 versus $1.09 expected and revenue of $1.51 billion, up 7.5% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $120.70.

Veralto Corporation (NYSE:VLTO - Get Free Report) SVP Mattias Byström sold 9,069 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $116.30, for a total value of $1,054,724.70. Following the transaction, the senior vice president directly owned 35,536 shares in the company, valued at $4,132,836.80. This trade represents a 20.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Veralto Stock Down 0.3%

NYSE VLTO traded down $0.36 on Thursday, reaching $116.66. The company had a trading volume of 3,891,829 shares, compared to its average volume of 1,994,659. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.61. Veralto Corporation has a 1 year low of $80.03 and a 1 year high of $119.03. The firm has a 50-day moving average of $99.27 and a 200-day moving average of $93.34. The firm has a market capitalization of $28.37 billion, a PE ratio of 28.88, a P/E/G ratio of 3.22 and a beta of 0.51.

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

Veralto Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VLTO. Highland Investment Advisors LLC acquired a new stake in shares of Veralto during the 2nd quarter valued at $32,000. Provenance Wealth Advisors LLC grew its holdings 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 acquiring an additional 389 shares during the last quarter. Putney Financial Group LLC acquired a new stake in shares of Veralto during the third quarter worth $42,000. Latitude Advisors LLC acquired a new stake in shares of Veralto during the third quarter worth $47,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Veralto during the first quarter worth $66,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VLTO shares. Citigroup upped their target price on shares of Veralto from $107.00 to $120.00 and gave the company a "neutral" rating in a research note on Monday. Royal Bank Of Canada upped their price objective on Veralto from $109.00 to $121.00 and gave the company a "sector perform" rating in a research note on Monday. Robert W. Baird set a $111.00 price objective on Veralto in a research note on Thursday, July 30th. Barclays increased their target price on Veralto from $117.00 to $129.00 and gave the stock an "overweight" rating in a report on Monday. Finally, UBS Group lifted their target price on Veralto from $104.00 to $106.00 and gave the stock a "neutral" rating in a research report on Monday, October 5th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Veralto has a consensus rating of "Moderate Buy" and a consensus price target of $120.70.

Veralto Company Profile

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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