Veralto Co. (NYSE:VLTO) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 64.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,314 shares of the company's stock after selling 165,552 shares during the quarter. Point72 Asset Management L.P.'s holdings in Veralto were worth $10,326,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in shares of Veralto by 32.9% during the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company's stock worth $23,256,000 after purchasing an additional 60,300 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Veralto by 126.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company's stock worth $6,460,000 after acquiring an additional 37,721 shares during the period. PGGM Investments acquired a new position in Veralto during the second quarter valued at $1,528,000. Mirova US LLC boosted its holdings in Veralto by 2.2% in the second quarter. Mirova US LLC now owns 1,055,767 shares of the company's stock valued at $100,794,000 after purchasing an additional 22,324 shares during the last quarter. Finally, Northstar Asset Management Inc. grew its holdings in Veralto by 22.5% during the third quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company's stock worth $8,762,000 after acquiring an additional 14,398 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Price Performance

NYSE:VLTO traded up $1.24 during trading hours on Friday, hitting $106.53. 1,003,356 shares of the stock were exchanged, compared to its average volume of 1,238,117. The firm's fifty day moving average price is $107.58 and its 200 day moving average price is $105.16. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The company has a market cap of $26.35 billion, a P/E ratio of 32.88, a P/E/G ratio of 4.40 and a beta of 0.91. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

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

Veralto Announces Dividend

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

Insider Buying and Selling

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the company's stock in a transaction on 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 of the company's stock, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several recent research reports. BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Royal Bank of Canada raised their price target on shares of Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. UBS Group initiated coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a "neutral" rating and a $118.00 price objective 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 note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $108.27.

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.