Veralto Co. (NYSE:VLTO) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors decreased its holdings in Veralto Co. (NYSE:VLTO) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,382 shares of the company’s stock after selling 415 shares during the quarter. Tower Bridge Advisors’ holdings in Veralto were worth $938,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of VLTO. Ashton Thomas Securities LLC acquired a new stake in Veralto during the third quarter valued at approximately $25,000. Goodman Advisory Group LLC acquired a new stake in Veralto during the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in Veralto during the first quarter valued at approximately $30,000. Fairscale Capital LLC acquired a new stake in Veralto during the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of VLTO stock opened at $102.68 on Friday. Veralto Co. has a 12-month low of $70.06 and a 12-month high of $115.00. The firm has a market capitalization of $25.39 billion and a price-to-earnings ratio of 31.69. The business has a 50 day simple moving average of $108.57 and a 200 day simple moving average of $104.13. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on VLTO. TD Cowen upped their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Robert W. Baird increased their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada increased their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus increased their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $108.27.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the 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 completion of the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. This trade represents a 36.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction on Monday, September 30th. The shares were 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 approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is owned by corporate 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.