Insider Selling: Veralto Co. (NYSE:VLTO) CEO Sells $1,477,128.18 in Stock

Veralto Co. (NYSE:VLTO) CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Veralto Price Performance

VLTO stock opened at $109.85 on Friday. The firm has a market cap of $27.12 billion and a P/E ratio of 33.78. The firm’s fifty day moving average is $103.96 and its 200 day moving average is $97.00. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $112.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.80 EPS. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts predict that Veralto Co. will post 3.45 earnings per share for the current year.

Hedge Funds Weigh In On Veralto

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after buying an additional 1,568,103 shares during the period. Capital International Investors lifted its stake in Veralto by 8.5% in the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares during the period. Brown Advisory Inc. bought a new stake in Veralto in the fourth quarter valued at $528,018,000. Bank of New York Mellon Corp increased its position in Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after purchasing an additional 200,657 shares during the period. Finally, Norges Bank purchased a new position in shares of Veralto during the fourth quarter valued at about $266,143,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VLTO. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. Robert W. Baird boosted their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus increased their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group raised their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto currently has an average rating of “Moderate Buy” and a consensus target price of $104.46.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.