Stifel Financial Corp Sells 33,360 Shares of Veralto Co. (NYSE:VLTO)

Stifel Financial Corp trimmed its stake in Veralto Co. (NYSE:VLTO - Free Report) by 21.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,583 shares of the company's stock after selling 33,360 shares during the quarter. Stifel Financial Corp owned 0.05% of Veralto worth $14,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in VLTO. Principal Financial Group Inc. lifted its holdings in Veralto by 207.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company's stock worth $125,608,000 after purchasing an additional 757,389 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Veralto by 29.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company's stock valued at $208,511,000 after purchasing an additional 418,588 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Veralto in the second quarter worth $24,618,000. Bank of Montreal Can grew its stake in Veralto by 106.0% in the 3rd quarter. Bank of Montreal Can now owns 455,474 shares of the company's stock valued at $50,239,000 after buying an additional 234,323 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Veralto in the 2nd quarter worth $20,913,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

Veralto stock traded down $1.23 during trading hours on Wednesday, hitting $105.16. 572,322 shares of the stock were exchanged, compared to its average volume of 1,513,679. The stock has a market capitalization of $26.01 billion, a P/E ratio of 32.88, a P/E/G ratio of 4.39 and a beta of 0.91. The business's 50-day moving average is $107.48 and its two-hundred day moving average is $105.21. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a 12 month low of $73.91 and a 12 month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business's revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.75 EPS. Equities research analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analyst Weigh In

Several research analysts have commented on VLTO shares. BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a "neutral" rating and a $118.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Veralto from $119.00 to $117.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $108.09.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company's stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, 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. Insiders have sold a total of 14,695 shares of company stock worth $1,615,017 over the last 90 days. Insiders own 0.31% of the company's stock.

About Veralto

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.