Veralto (NYSE:VLTO) SVP Melissa Kapity Sells 5,146 Shares of Company Stock

Veralto Corporation (NYSE:VLTO) SVP Melissa Kapity sold 5,146 shares of the business’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $118.06, for a total transaction of $607,536.76. Following the sale, the senior vice president directly owned 14,715 shares of the company’s stock, valued at $1,737,252.90. This represents a 25.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Veralto Stock Down 1.1%

Shares of NYSE VLTO opened at $117.44 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.82 and a current ratio of 2.03. The firm has a market capitalization of $28.55 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.29 and a beta of 0.51. The stock has a 50 day moving average price of $101.62 and a 200 day moving average price of $93.82. Veralto Corporation has a 52-week low of $80.03 and a 52-week high of $119.70.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.09. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a return on equity of 35.08% and a net margin of 17.27%. Veralto’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Sell-side analysts expect that Veralto Corporation will post 4.51 earnings per share for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s dividend payout ratio is presently 12.87%.

Institutional Investors Weigh In On Veralto

Hedge funds have recently made changes to their positions in the stock. Highland Investment Advisors LLC purchased a new position in Veralto in the second quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Veralto during the third quarter valued at about $37,000. Provenance Wealth Advisors LLC lifted its position in shares of Veralto by 997.4% during the third quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock valued at $40,000 after buying an additional 389 shares during the last quarter. Putney Financial Group LLC bought a new stake in shares of Veralto in the 3rd quarter valued at about $42,000. Finally, Latitude Advisors LLC bought a new stake in shares of Veralto in the 3rd quarter valued at about $47,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VLTO has been the subject of several recent research reports. Barclays lifted their price objective on Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Stifel Nicolaus increased their target price on shares of Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Citigroup raised their target price on shares of Veralto from $107.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Wolfe Research initiated coverage on shares of Veralto in a report on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 price target for the company. Finally, UBS Group upped their price target on shares of Veralto from $104.00 to $106.00 and gave the stock a “neutral” rating in a research report on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.70.

About Veralto

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.