LS Investment Advisors LLC Sells 1,908 Shares of Veralto Co. (NYSE:VLTO)

LS Investment Advisors LLC trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 10.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,145 shares of the company’s stock after selling 1,908 shares during the period. LS Investment Advisors LLC’s holdings in Veralto were worth $1,806,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC lifted its stake in shares of Veralto by 7.4% in the first quarter. Private Advisor Group LLC now owns 14,153 shares of the company’s stock worth $1,255,000 after buying an additional 970 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Veralto by 9.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 34,290 shares of the company’s stock worth $3,040,000 after purchasing an additional 3,018 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Veralto in the first quarter worth $230,000. Empirical Finance LLC lifted its holdings in shares of Veralto by 3.5% during the first quarter. Empirical Finance LLC now owns 7,830 shares of the company’s stock valued at $694,000 after purchasing an additional 267 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Veralto by 6.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,645 shares of the company’s stock worth $3,604,000 after buying an additional 2,494 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Stock Performance

VLTO opened at $104.30 on Friday. The company has a 50 day simple moving average of $109.38 and a two-hundred day simple moving average of $103.61. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The firm has a market cap of $25.79 billion and a P/E ratio of 32.19. Veralto Co. has a 1-year low of $69.09 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VLTO shares. Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird raised 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. The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus raised their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $108.27.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,038 shares of company stock valued at $3,989,693 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

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.