Veralto Co. (NYSE:VLTO) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. reduced its holdings in Veralto Co. (NYSE:VLTO) by 4.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 37,115 shares of the company’s stock after selling 1,769 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Veralto were worth $4,152,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in Veralto by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after acquiring an additional 200,657 shares during the period. FMR LLC grew its position in Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after buying an additional 162,347 shares during the period. Swedbank AB increased its stake in Veralto by 4.9% in the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after purchasing an additional 132,105 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Veralto by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,493 shares of the company’s stock valued at $259,458,000 after buying an additional 82,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Veralto by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,549,716 shares of the company’s stock worth $173,351,000 after buying an additional 141,209 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,448 shares of company stock valued at $1,698,675. Company insiders own 0.31% of the company’s stock.

Veralto Price Performance

VLTO opened at $108.19 on Monday. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company’s 50 day simple moving average is $108.00 and its 200 day simple moving average is $104.90. The stock has a market capitalization of $26.76 billion and a PE ratio of 33.39.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Veralto’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS. As a group, sell-side analysts expect that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. Veralto’s dividend payout ratio (DPR) is 11.11%.

Analysts Set New Price Targets

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

Veralto 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.