Geneva Capital Management LLC Sells 693 Shares of Veralto Co. (NYSE:VLTO)

Geneva Capital Management LLC reduced its stake in shares of Veralto Co. (NYSE:VLTO) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,003 shares of the company’s stock after selling 693 shares during the quarter. Geneva Capital Management LLC’s holdings in Veralto were worth $895,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Veralto during the third quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of Veralto during the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new position in shares of Veralto during the first quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new position in shares of Veralto during the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the period. 91.28% of the stock is owned by institutional investors.

Veralto Stock Performance

Shares of VLTO stock opened at $104.82 on Thursday. The business’s fifty day simple moving average is $108.95 and its 200-day simple moving average is $104.00. The company has a market cap of $25.92 billion and a PE ratio of 32.35. 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 Co. has a 12-month low of $70.06 and a 12-month high of $115.00.

Veralto (NYSE:VLTO) last issued 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 business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. Analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto’s payout ratio is presently 11.11%.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,038 shares of company stock valued at $3,989,693. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on VLTO shares. The Goldman Sachs Group boosted their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. BMO Capital Markets boosted their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Robert W. Baird boosted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, TD Cowen boosted their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Veralto currently has an average rating of “Hold” and a consensus target price of $108.27.

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.