Veralto Co. (NYSE:VLTO) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP lowered its position in Veralto Co. (NYSE:VLTO) by 49.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,707 shares of the company’s stock after selling 6,524 shares during the period. Stevens Capital Management LP’s holdings in Veralto were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers lifted its position in shares of Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after acquiring an additional 34,505 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Veralto by 32.9% during the 2nd 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Veralto by 126.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock worth $6,460,000 after purchasing an additional 37,721 shares in the last quarter. PGGM Investments purchased a new position in shares of Veralto during the 2nd quarter worth approximately $1,528,000. Finally, Mirova US LLC increased its stake in shares of Veralto by 2.2% during the 2nd quarter. Mirova US LLC now owns 1,055,767 shares of the company’s stock worth $100,794,000 after purchasing an additional 22,324 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction dated 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 sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated 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 approximately $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Veralto Trading Up 0.2 %

Shares of NYSE:VLTO opened at $107.51 on Thursday. The company has a 50 day moving average of $107.78 and a 200-day moving average of $105.04. The firm has a market cap of $26.59 billion, a P/E ratio of 33.18, a P/E/G ratio of 4.43 and a beta of 0.91. Veralto Co. has a twelve month low of $73.91 and a twelve month high of $115.00. 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) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

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.