Insider Selling: Veralto (NYSE:VLTO) SVP Sells $1,054,724.70 in Stock

Veralto Corporation (NYSE:VLTO) SVP Mattias Byström sold 9,069 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total value of $1,054,724.70. Following the completion of the transaction, the senior vice president owned 35,536 shares in the company, valued at approximately $4,132,836.80. This trade represents a 20.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Veralto Trading Up 0.4%

Shares of VLTO opened at $117.06 on Friday. Veralto Corporation has a 52-week low of $80.03 and a 52-week high of $119.03. The company has a quick ratio of 1.61, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average is $100.00 and its two-hundred day moving average is $93.49. The stock has a market cap of $28.46 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 3.25 and a beta of 0.51.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, October 29th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. Research analysts forecast that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s dividend payout ratio is 12.87%.

Institutional Trading of Veralto

Several institutional investors have recently made changes to their positions in VLTO. First Trust Advisors LP grew its position in Veralto by 31.5% in the first quarter. First Trust Advisors LP now owns 6,150,388 shares of the company’s stock worth $543,817,000 after acquiring an additional 1,472,304 shares during the period. Amundi raised its position in Veralto by 16.3% in the first quarter. Amundi now owns 3,797,526 shares of the company’s stock valued at $335,785,000 after purchasing an additional 531,478 shares during the period. Pictet Asset Management Holding SA raised its position in Veralto by 8.4% in the third quarter. Pictet Asset Management Holding SA now owns 3,285,938 shares of the company’s stock valued at $309,946,000 after purchasing an additional 255,749 shares during the period. Bank of New York Mellon Corp purchased a new stake in Veralto in the second quarter valued at $235,200,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Veralto by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,095,393 shares of the company’s stock valued at $185,266,000 after purchasing an additional 69,578 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BNP Paribas Exane reiterated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Veralto in a research report on Thursday, July 30th. Robert W. Baird set a $111.00 target price on Veralto in a report on Thursday, July 30th. Wolfe Research began coverage on Veralto in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 target price for the company. UBS Group lifted their price target on Veralto from $104.00 to $106.00 and gave the stock a “neutral” rating in a report on Monday, October 5th. Finally, Citigroup upped their price objective on shares of Veralto from $107.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Veralto currently has an average rating of “Moderate Buy” and an average target price of $120.70.

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.