Veralto Co. (NYSE:VLTO - Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 3,110,000 shares, a drop of 16.8% from the September 30th total of 3,740,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average trading volume of 1,530,000 shares, the days-to-cover ratio is presently 2.0 days.
Analyst Ratings Changes
Several research firms have commented on VLTO. Stifel Nicolaus lifted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a research note on Friday. TD Cowen lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a "hold" rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $108.27.
Read Our Latest Stock Analysis on VLTO
Veralto Stock Down 0.0 %
Shares of VLTO stock traded down $0.05 during mid-day trading on Monday, reaching $104.00. 1,296,581 shares of the company's stock traded hands, compared to its average volume of 1,555,060. Veralto has a 12 month low of $66.69 and a 12 month high of $115.00. The company has a market cap of $25.67 billion and a P/E ratio of 32.13. 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 company's 50-day moving average price is $110.75 and its 200-day moving average price is $102.93.
Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The company's quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Veralto will post 3.47 earnings per share for the current fiscal year.
Veralto Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto's payout ratio is 11.11%.
Insider Activity
In related news, SVP Surekha Trivedi sold 7,399 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares of the company's stock, valued at $1,393,810. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm'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 value of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at $15,260,841.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,039 shares of company stock worth $3,992,665. 0.31% of the stock is owned by company insiders.
Hedge Funds Weigh In On Veralto
A number of hedge funds have recently bought and sold shares of VLTO. Swedbank AB bought a new position in Veralto in the 1st quarter worth about $237,864,000. Vanguard Group Inc. raised its position in Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company's stock worth $2,431,869,000 after buying an additional 1,568,103 shares during the last quarter. Capital International Investors raised its position in Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company's stock worth $629,232,000 after buying an additional 553,021 shares during the last quarter. Nordea Investment Management AB raised its position in Veralto by 753.8% in the 1st quarter. Nordea Investment Management AB now owns 527,040 shares of the company's stock worth $47,154,000 after buying an additional 465,312 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in Veralto in the 2nd quarter worth about $39,343,000. Institutional investors own 91.28% of the company's stock.
About Veralto
(
Get Free Report)
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.
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