Traynor Capital Management Inc. Sells 543 Shares of Veralto Co. (NYSE:VLTO)

Traynor Capital Management Inc. cut its stake in shares of Veralto Co. (NYSE:VLTO) by 16.1% in the 1st quarter, HoldingsChannel reports. The firm owned 2,840 shares of the company’s stock after selling 543 shares during the period. Traynor Capital Management Inc.’s holdings in Veralto were worth $252,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC bought a new stake in Veralto during the fourth quarter valued at approximately $3,202,000. Factory Mutual Insurance Co. bought a new stake in Veralto during the fourth quarter valued at approximately $9,260,000. State of Michigan Retirement System bought a new stake in Veralto during the fourth quarter valued at approximately $4,940,000. Dimensional Fund Advisors LP purchased a new position in shares of Veralto during the fourth quarter worth approximately $79,075,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Veralto during the fourth quarter worth approximately $25,633,000. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of several research reports. Robert W. Baird lifted their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. BMO Capital Markets lifted their price target on shares of 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 initiated coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Finally, TD Cowen initiated coverage on shares of Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

Veralto Stock Up 0.9 %

Shares of Veralto stock opened at $99.75 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The company’s fifty day simple moving average is $97.46 and its two-hundred day simple moving average is $88.13. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $102.58.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts expect that Veralto Co. will post 3.37 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Friday, June 28th.

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.