Ferguson Wellman Capital Management Inc. Trims Stock Position in Veralto Co. (NYSE:VLTO)

Ferguson Wellman Capital Management Inc. trimmed its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 386,378 shares of the company's stock after selling 25,725 shares during the period. Ferguson Wellman Capital Management Inc. owned about 0.16% of Veralto worth $43,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in VLTO. Goodman Advisory Group LLC purchased a new stake in Veralto during the second quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in Veralto during the second quarter worth about $30,000. LRI Investments LLC purchased a new stake in Veralto during the first quarter worth about $30,000. Hazlett Burt & Watson Inc. increased its holdings in Veralto by 11,100.0% during the second 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 last quarter. Finally, Mather Group LLC. purchased a new stake in Veralto during the first quarter worth about $33,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VLTO shares. The Goldman Sachs Group increased their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 target price for the company. Finally, Stifel Nicolaus increased their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $108.00.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 owns 11,165 shares in the company, valued at approximately $1,256,620.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,039 shares of company stock valued at $4,310,335. 0.31% of the stock is currently owned by company insiders.

Veralto Trading Up 0.5 %

Shares of NYSE VLTO traded up $0.57 during mid-day trading on Friday, hitting $113.60. The stock had a trading volume of 3,872,187 shares, compared to its average volume of 1,556,599. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $114.61. The business has a 50 day moving average price of $110.66 and a two-hundred day moving average price of $102.07. The firm has a market cap of $28.04 billion and a P/E ratio of 35.61.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Veralto Co. will post 3.45 EPS for the current fiscal year.

Veralto Dividend Announcement

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

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.