Veralto Co. (NYSE:VLTO) Position Cut by Davis R M Inc.

Davis R M Inc. lowered its position in Veralto Co. (NYSE:VLTO - Free Report) by 32.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,084 shares of the company's stock after selling 17,278 shares during the period. Davis R M Inc.'s holdings in Veralto were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto in the 3rd quarter worth $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Veralto in the 2nd quarter worth $26,000. LRI Investments LLC purchased a new stake in shares of Veralto in the 1st quarter worth $30,000. Fairscale Capital LLC purchased a new stake in shares of Veralto in the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company's stock worth $32,000 after buying an additional 333 shares during the period. 91.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VLTO shares. TD Cowen boosted their price target on Veralto from $95.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their price target on Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a research report on Monday, July 29th. BMO Capital Markets upped their target price on Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Veralto from $100.00 to $109.00 and gave the company a "hold" rating in a research report on Monday, July 29th. Seven 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, the company presently has a consensus rating of "Hold" and a consensus target price of $108.27.

Veralto Stock Up 1.0 %

Veralto stock traded up $1.05 during mid-day trading on Monday, hitting $107.46. The company had a trading volume of 487,870 shares, compared to its average volume of 1,526,635. The stock has a market cap of $26.58 billion and a price-to-earnings ratio of 32.84. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 1 year low of $72.85 and a 1 year high of $115.00. The business has a fifty day moving average of $108.11 and a 200 day moving average of $104.50.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results 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 net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. Veralto's dividend payout ratio is currently 11.11%.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at approximately $15,514,381.08. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the sale, the senior vice president now directly owns 11,165 shares of the company's stock, valued at $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,639 shares of company stock worth $3,175,803 in the last ninety days. Insiders own 0.31% of the company's stock.

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.