Veralto Co. (NYSE:VLTO) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 63.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 685,569 shares of the company's stock after selling 1,206,750 shares during the period. Massachusetts Financial Services Co. MA owned about 0.28% of Veralto worth $76,688,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CreativeOne Wealth LLC bought a new position in shares of Veralto during the first quarter worth $270,000. LRI Investments LLC bought a new position in shares of Veralto during the first quarter worth $30,000. PEAK6 Investments LLC boosted its position in shares of Veralto by 20.7% during the first quarter. PEAK6 Investments LLC now owns 2,655 shares of the company's stock worth $235,000 after acquiring an additional 456 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Veralto during the first quarter worth $23,394,000. Finally, Tidal Investments LLC boosted its position in shares of Veralto by 40.8% during the first quarter. Tidal Investments LLC now owns 14,855 shares of the company's stock worth $1,317,000 after acquiring an additional 4,303 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 1.1 %

NYSE:VLTO traded up $1.17 on Monday, reaching $107.58. The company's stock had a trading volume of 640,403 shares, compared to its average volume of 1,527,304. Veralto Co. has a 12-month low of $72.85 and a 12-month high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The firm has a market cap of $26.61 billion and a price-to-earnings ratio of 32.84. The stock has a 50 day moving average price of $108.11 and a 200 day moving average price of $104.50.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.75 EPS. Veralto's revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's payout ratio is currently 11.11%.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several research reports. Robert W. Baird increased their price objective 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. BMO Capital Markets raised their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a report on Monday, September 30th. UBS Group started coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 target price for the company. The Goldman Sachs Group raised their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Finally, TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a "hold" rating in a research note 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $108.27.

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,639 shares of company stock valued at $3,175,803. 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.