Douglas Lane & Associates LLC Decreases Holdings in Veralto Co. (NYSE:VLTO)

Douglas Lane & Associates LLC trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 42.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,895 shares of the company’s stock after selling 14,117 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Veralto were worth $1,804,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC purchased a new position in shares of Veralto during the 4th quarter valued at about $3,202,000. Daiwa Securities Group Inc. raised its holdings in shares of Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after buying an additional 35,433 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Veralto during the 4th quarter valued at about $79,075,000. Wells Fargo & Company MN purchased a new position in shares of Veralto during the 4th quarter valued at about $25,633,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Veralto during the 4th quarter valued at about $7,944,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. BMO Capital Markets lifted their price target on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. The Goldman Sachs Group lifted their price target on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, TD Cowen lifted their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.33.

Veralto Trading Up 2.1 %

Shares of VLTO traded up $2.13 during mid-day trading on Tuesday, hitting $104.12. 1,606,571 shares of the company’s stock traded hands, compared to its average volume of 1,588,440. The company has a quick ratio of 1.56, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $107.86. The firm has a market capitalization of $25.73 billion and a P/E ratio of 31.67. The business’s 50-day moving average price is $99.57 and its 200-day moving average price is $92.45.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. As a group, sell-side analysts forecast that Veralto Co. will post 3.45 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, June 28th.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction dated 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 directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction dated 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 directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Honeycutt 13,191 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders sold a total of 4,055 shares of company stock worth $428,345 in the last three months. 0.31% of the stock is owned by corporate insiders.

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.