Taurus Asset Management LLC Sells 2,819 Shares of Veralto Co. (NYSE:VLTO)

Taurus Asset Management LLC reduced its position in Veralto Co. (NYSE:VLTO) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,573 shares of the company’s stock after selling 2,819 shares during the period. Taurus Asset Management LLC’s holdings in Veralto were worth $3,867,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of Veralto by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after purchasing an additional 100 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after purchasing an additional 100 shares in the last quarter. Strategic Blueprint LLC lifted its holdings in shares of Veralto by 4.5% in the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after purchasing an additional 102 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Veralto by 2.4% in the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in shares of Veralto by 1.8% in the 3rd quarter. Sentry Investment Management LLC now owns 5,999 shares of the company’s stock worth $671,000 after purchasing an additional 108 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Down 0.4 %

Shares of Veralto stock opened at $102.68 on Monday. The stock has a fifty day moving average price of $108.57 and a 200-day moving average price of $104.13. Veralto Co. has a 1 year low of $70.06 and a 1 year high of $115.00. The firm has a market cap of $25.39 billion and a PE ratio of 31.69. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is currently 11.11%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VLTO. Deutsche Bank Aktiengesellschaft raised their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. TD Cowen raised their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus raised their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Veralto presently has a consensus rating of “Hold” and a consensus price target of $108.27.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is owned by insiders.

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.