Peapack Gladstone Financial Corp Sells 3,830 Shares of Veralto Co. (NYSE:VLTO)

Peapack Gladstone Financial Corp cut its stake in Veralto Co. (NYSE:VLTO) by 25.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,979 shares of the company’s stock after selling 3,830 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Veralto were worth $1,228,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in VLTO. Brown Brothers Harriman & Co. grew its stake in Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Veralto by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after buying an additional 100 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after acquiring an additional 100 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of Veralto by 4.5% during the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after acquiring an additional 102 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after acquiring an additional 103 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday. They issued a “buy” rating and a $125.00 price target for the company. Finally, Stifel Nicolaus dropped their price target on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.50.

Veralto Trading Down 1.5 %

Shares of NYSE:VLTO opened at $104.22 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The stock has a market cap of $25.77 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 4.30 and a beta of 0.91. The business has a 50-day moving average price of $107.02 and a 200-day moving average price of $105.34.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion during 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% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. Equities analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. Veralto’s dividend payout ratio is presently 11.11%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,695 shares of company stock valued at $1,615,017. 0.31% of the stock is owned by insiders.

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.