Veralto Co. (NYSE:VLTO) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its position in Veralto Co. (NYSE:VLTO) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,390 shares of the company’s stock after selling 273 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Veralto were worth $491,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Veralto during the third quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of Veralto in the 2nd quarter valued at $26,000. Fairscale Capital LLC acquired a new position in shares of Veralto during the 2nd quarter valued at $30,000. Raleigh Capital Management Inc. boosted its position in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the period. Finally, LRI Investments LLC acquired a new stake in Veralto in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. TD Cowen boosted their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Veralto presently has a consensus rating of “Hold” and an average price target of $108.27.

Veralto Stock Down 0.4 %

Shares of NYSE:VLTO opened at $102.68 on Friday. The firm has a 50 day simple moving average of $108.69 and a 200 day simple moving average of $104.00. Veralto Co. has a 52 week low of $70.06 and a 52 week high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a market cap of $25.39 billion and a PE ratio of 31.69.

Veralto (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts expect that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

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

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,038 shares of company stock valued at $3,989,693 in the last 90 days. 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.