Veralto Co. (NYSE:VLTO) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,115 shares of the company’s stock after selling 667 shares during the period. Sky Investment Group LLC’s holdings in Veralto were worth $460,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of VLTO. Daiwa Securities Group Inc. increased its stake in Veralto by 78.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after buying an additional 35,433 shares during the period. Cetera Investment Advisers increased its stake in shares of Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after acquiring an additional 34,505 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Veralto by 19.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock worth $14,952,000 after purchasing an additional 27,891 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Veralto in the first quarter valued at about $1,011,000. Finally, Mediolanum International Funds Ltd purchased a new stake in Veralto in the 1st quarter valued at approximately $2,372,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,039 shares of company stock valued at $4,310,335. Insiders own 0.31% of the company’s stock.

Veralto Trading Down 1.0 %

Shares of VLTO traded down $1.17 on Tuesday, hitting $111.90. 143,062 shares of the stock traded hands, compared to its average volume of 1,546,749. The stock’s 50 day moving average is $110.79 and its two-hundred day moving average is $102.36. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $27.62 billion and a P/E ratio of 35.13. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $114.61.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.32%. Veralto’s payout ratio is currently 11.29%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus increased their price target on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, TD Cowen upped their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $108.00.

Veralto Company Profile

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.