Insider Selling: Veralto (NYSE:VLTO) SVP Sells $3,966,536.03 in Stock

Veralto Corporation (NYSE:VLTO) SVP Surekha Trivedi sold 36,427 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $108.89, for a total transaction of $3,966,536.03. Following the completion of the sale, the senior vice president owned 8,565 shares of the company’s stock, valued at $932,642.85. This trade represents a 80.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Surekha Trivedi also recently made the following trade(s):

• On Monday, August 17th, Surekha Trivedi sold 986 shares of Veralto stock. The stock was sold at an average price of $97.05, for a total transaction of $95,691.30.

Veralto Price Performance

VLTO traded up $0.62 on Tuesday, hitting $116.32. 2,451,647 shares of the company were exchanged, compared to its average volume of 1,984,175. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.61 and a current ratio of 1.78. The business’s fifty day moving average is $98.56 and its 200 day moving average is $93.20. Veralto Corporation has a fifty-two week low of $80.03 and a fifty-two week high of $117.05. The firm has a market capitalization of $28.36 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 2.91 and a beta of 0.62.

Veralto (NYSE:VLTO) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a net margin of 17.35% and a return on equity of 34.76%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. As a group, sell-side analysts anticipate that Veralto Corporation will post 4.51 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Veralto’s payout ratio is currently 12.87%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings upgraded Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. UBS Group raised their price target on Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Robert W. Baird set a $111.00 price objective on shares of Veralto in a research report on Thursday, July 30th. BNP Paribas Exane reissued an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of Veralto in a research note on Thursday, July 30th. Finally, Wall Street Zen cut shares of Veralto from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and an average target price of $120.70.

Hedge Funds Weigh In On Veralto

Several hedge funds have recently bought and sold shares of the stock. Highland Investment Advisors LLC acquired a new stake in Veralto during the second quarter worth about $32,000. Provenance Wealth Advisors LLC lifted its stake in shares of Veralto by 997.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock valued at $40,000 after purchasing an additional 389 shares in 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, North Star Investment Management Corp. grew its holdings in shares of Veralto by 540.5% during the 3rd quarter. North Star Investment Management Corp. now owns 711 shares of the company’s stock worth $67,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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.