Insider Selling: Veralto Co. (NYSE:VLTO) CEO Sells 13,190 Shares of Stock

Veralto Co. (NYSE:VLTO) CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. The transaction was disclosed in a filing with the SEC, which is available at this link.

Jennifer Honeycutt also recently made the following trade(s):

• On Friday, August 30th, Jennifer Honeycutt sold 13,191 shares of Veralto stock. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18.

Veralto Price Performance

NYSE VLTO traded up $1.24 on Wednesday, reaching $111.27. 1,143,092 shares of the stock traded hands, compared to its average volume of 1,569,288. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The firm’s fifty day simple moving average is $108.59 and its 200 day simple moving average is $99.98. The company has a market cap of $27.47 billion and a price-to-earnings ratio of 33.62.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, research analysts predict that Veralto Co. will post 3.45 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VLTO shares. BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday. Stifel Nicolaus raised their target price on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price objective on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Robert W. Baird upped their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.85.

Institutional Trading of Veralto

Several institutional investors and hedge funds have recently bought and sold shares of VLTO. Daiwa Securities Group Inc. grew its stake in Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after acquiring an additional 35,433 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Veralto during the fourth quarter worth $717,000. Cetera Investment Advisers boosted its position in Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after purchasing an additional 34,505 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Veralto by 19.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock worth $14,952,000 after purchasing an additional 27,891 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Veralto during the 1st quarter worth about $1,011,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.