Veralto Co. (NYSE:VLTO) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC decreased its stake in shares of Veralto Co. (NYSE:VLTO) by 26.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,920 shares of the company’s stock after selling 1,035 shares during the period. Highland Capital Management LLC’s holdings in Veralto were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC acquired a new position in shares of Veralto in the 4th quarter worth approximately $3,202,000. Factory Mutual Insurance Co. purchased a new position in shares of Veralto in the fourth quarter worth approximately $9,260,000. Daiwa Securities Group Inc. raised its holdings in shares of Veralto by 78.3% during the first quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after acquiring an additional 35,433 shares during the period. State of Michigan Retirement System acquired a new stake in shares of Veralto during the fourth quarter valued at approximately $4,940,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Veralto during the fourth quarter valued at approximately $79,075,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VLTO shares. Stifel Nicolaus boosted their price target on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Robert W. Baird boosted their price objective on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price objective on shares of Veralto in a research report on Friday, June 14th. The Goldman Sachs Group initiated coverage on shares of Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective on the stock. Finally, TD Cowen initiated coverage on shares of Veralto in a research report on Monday, June 17th. They set a “hold” rating and a $95.00 price objective on the stock. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Veralto Trading Up 1.7 %

VLTO stock traded up $1.66 during trading hours on Friday, hitting $98.76. The company’s stock had a trading volume of 1,052,781 shares, compared to its average volume of 1,669,871. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The stock has a 50 day moving average price of $98.51 and a two-hundred day moving average price of $89.70. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $102.58.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts predict that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.36%. The ex-dividend date is Friday, June 28th.

Insider Activity at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.