Veralto Co. (NYSE:VLTO) Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC cut its stake in shares of Veralto Co. (NYSE:VLTO) by 0.8% in the third quarter, Holdings Channel.com reports. The fund owned 13,838 shares of the company’s stock after selling 109 shares during the period. Segment Wealth Management LLC’s holdings in Veralto were worth $1,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VLTO. Goodman Advisory Group LLC acquired a new position in Veralto during the 2nd quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in Veralto during the 2nd quarter worth approximately $30,000. Raleigh Capital Management Inc. increased its holdings in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the period. LRI Investments LLC purchased a new stake in shares of Veralto during the first quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock worth $4,310,335 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group started coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Royal Bank of Canada boosted their target price on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus raised their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $108.00.

Veralto Price Performance

Shares of VLTO opened at $111.79 on Wednesday. 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 fifty-two week low of $65.51 and a fifty-two week high of $114.61. The firm has a 50-day simple moving average of $110.86 and a 200-day simple moving average of $102.54. The company has a market capitalization of $27.60 billion and a price-to-earnings ratio of 35.04.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Veralto Co. will post 3.46 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.29%.

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.