Veralto Co. (NYSE:VLTO) CEO Jennifer Honeycutt Sells 10,414 Shares

Veralto Co. (NYSE:VLTO) CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Veralto Stock Performance

VLTO stock traded down $0.95 on Wednesday, hitting $99.70. The company had a trading volume of 1,237,684 shares, compared to its average volume of 1,490,456. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a 12-month low of $85.70 and a 12-month high of $115.00. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 4.24 and a beta of 1.06. The stock’s 50-day simple moving average is $101.28 and its 200 day simple moving average is $105.84.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, equities research analysts expect that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is presently 13.17%.

Hedge Funds Weigh In On Veralto

Several institutional investors have recently made changes to their positions in VLTO. Ashton Thomas Securities LLC bought a new position in Veralto in the third quarter worth approximately $25,000. Bernard Wealth Management Corp. bought a new stake in shares of Veralto during the 4th quarter valued at $25,000. OFI Invest Asset Management purchased a new stake in shares of Veralto in the 4th quarter worth $26,000. BankPlus Trust Department bought a new position in Veralto in the 4th quarter worth $29,000. Finally, Albion Financial Group UT lifted its position in Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on VLTO. Citigroup lowered their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada decreased their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group assumed coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Veralto presently has an average rating of “Hold” and a consensus target price of $112.55.

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.