Veralto (NYSE:VLTO) CEO Jennifer Honeycutt Sells 7,097 Shares

Veralto Corporation (NYSE:VLTO) CEO Jennifer Honeycutt sold 7,097 shares of the company’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $95.00, for a total transaction of $674,215.00. Following the completion of the transaction, the chief executive officer directly owned 124,085 shares in the company, valued at $11,788,075. The trade was a 5.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veralto Stock Up 2.7%

NYSE:VLTO traded up $2.57 during midday trading on Tuesday, reaching $96.85. The company had a trading volume of 604,550 shares, compared to its average volume of 2,083,924. Veralto Corporation has a 12-month low of $80.03 and a 12-month high of $110.11. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.59 and a beta of 0.63. The company has a current ratio of 1.48, a quick ratio of 1.32 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $87.81 and its 200-day simple moving average is $90.97.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 28th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. Veralto had a net margin of 17.33% and a return on equity of 34.63%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Veralto Corporation will post 4.24 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Veralto’s payout ratio is currently 13.44%.

Hedge Funds Weigh In On Veralto

Hedge funds have recently bought and sold shares of the company. Tema ETFs LLC boosted its position in Veralto by 9.8% during the second quarter. Tema ETFs LLC now owns 4,884 shares of the company’s stock worth $433,000 after purchasing an additional 435 shares in the last quarter. Nolet Wealth Management LLC increased its position in shares of Veralto by 1.0% in the second quarter. Nolet Wealth Management LLC now owns 15,277 shares of the company’s stock valued at $1,355,000 after buying an additional 146 shares in the last quarter. E. Ohman J or Asset Management AB raised its stake in shares of Veralto by 44.3% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 11,727 shares of the company’s stock worth $1,040,000 after buying an additional 3,600 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Veralto by 9.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 219,254 shares of the company’s stock worth $19,443,000 after buying an additional 18,277 shares in the last quarter. Finally, Defender Capital LLC. boosted its position in shares of Veralto by 3.7% in the 2nd quarter. Defender Capital LLC. now owns 248,501 shares of the company’s stock worth $22,037,000 after buying an additional 8,868 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on VLTO. UBS Group lifted their target price on shares of Veralto from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Barclays reduced their price objective on shares of Veralto from $117.00 to $113.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Jefferies Financial Group started coverage on Veralto in a research report on Tuesday, March 31st. They set a “buy” rating and a $110.00 target price on the stock. Royal Bank Of Canada increased their target price on Veralto from $99.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Finally, Wolfe Research restated an “outperform” rating and issued a $109.00 price target on shares of Veralto in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $106.33.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.