Surekha Trivedi Sells 590 Shares of Veralto Co. (NYSE:VLTO) Stock

Veralto Co. (NYSE:VLTO) SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the sale, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Veralto Stock Down 0.5 %

NYSE:VLTO opened at $99.26 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $101.21 and a 200-day moving average of $105.75. The firm has a market capitalization of $24.55 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 4.24 and a beta of 1.06. Veralto Co. has a 52 week low of $85.70 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.44%. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new stake in shares of Veralto during the fourth quarter valued at approximately $30,000. Putney Financial Group LLC bought a new position in Veralto in the 4th quarter worth approximately $60,000. Mackenzie Financial Corp increased its position in Veralto by 19.9% in the 4th quarter. Mackenzie Financial Corp now owns 23,097 shares of the company’s stock valued at $2,352,000 after acquiring an additional 3,831 shares during the period. Toronto Dominion Bank raised its stake in Veralto by 223.9% during the 4th quarter. Toronto Dominion Bank now owns 400,225 shares of the company’s stock valued at $40,762,000 after acquiring an additional 276,666 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Veralto by 12.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,610,965 shares of the company’s stock worth $265,927,000 after acquiring an additional 291,472 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on VLTO shares. Royal Bank of Canada reduced their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Citigroup reduced their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Stifel Nicolaus reduced their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.55.

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.