Veralto Co. (NYSE:VLTO) CEO Sells $1,026,403.84 in Stock

Veralto Co. (NYSE:VLTO - Get Free Report) CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the sale, the chief executive officer now owns 116,637 shares of the company's stock, valued at approximately $11,495,742.72. The trade was a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jennifer Honeycutt also recently made the following trade(s):

• On Tuesday, February 25th, Jennifer Honeycutt sold 10,414 shares of Veralto stock. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90.

Veralto Stock Down 2.0 %

Veralto stock traded down $1.92 during midday trading on Friday, hitting $95.97. 834,861 shares of the stock were exchanged, compared to its average volume of 1,499,859. Veralto Co. has a 52-week low of $85.91 and a 52-week high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The business's 50-day moving average price is $99.48 and its 200-day moving average price is $103.97. The stock has a market capitalization of $23.76 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

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Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, research analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's dividend payout ratio is 13.17%.

Hedge Funds Weigh In On Veralto

Several institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Veralto during the 4th quarter valued at $289,028,000. First Trust Advisors LP grew its position in shares of Veralto by 222.3% in the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company's stock valued at $265,054,000 after purchasing an additional 1,794,992 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Veralto during the 4th quarter valued at $133,058,000. Nordea Investment Management AB lifted its holdings in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock worth $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Veralto in the 4th quarter worth about $96,888,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VLTO. Stifel Nicolaus lowered their target price on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday, December 12th. They set a "buy" rating and a $125.00 price objective on the stock. Citigroup reduced their price objective on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Veralto presently has a consensus rating of "Hold" and an average price target of $113.50.

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.