Surekha Trivedi Sells 753 Shares of Veralto Co. (NYSE:VLTO) Stock

Veralto Co. (NYSE:VLTO) SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the transaction, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. The sale was disclosed in a filing with the SEC, which is available at this link.

Surekha Trivedi also recently made the following trade(s):

• On Tuesday, September 3rd, Surekha Trivedi sold 753 shares of Veralto stock. The shares were sold at an average price of $111.10, for a total value of $83,658.30.
• On Wednesday, August 21st, Surekha Trivedi sold 7,399 shares of Veralto stock. The shares were sold at an average price of $110.00, for a total value of $813,890.00.
• On Thursday, August 1st, Surekha Trivedi sold 753 shares of Veralto stock. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16.

Veralto Stock Up 1.1 %

Veralto stock traded up $1.24 during mid-day trading on Wednesday, hitting $111.27. The company had a trading volume of 1,143,092 shares, compared to its average volume of 1,569,288. The company has a market capitalization of $27.47 billion and a PE ratio of 33.62. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average price is $108.59 and its two-hundred day moving average price is $99.98. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $0.80 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.32%.

Institutional Investors Weigh In On Veralto

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after acquiring an additional 1,568,103 shares in the last quarter. Capital International Investors lifted its position in Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares during the period. Bank of New York Mellon Corp raised its position in Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after buying an additional 200,657 shares during the last quarter. Swedbank AB boosted its stake in shares of Veralto by 4.9% in the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after buying an additional 132,105 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Veralto by 33,575.5% in the 4th quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock valued at $207,318,000 after purchasing an additional 2,512,791 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VLTO shares. Royal Bank of Canada boosted their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday. Stifel Nicolaus raised their price target on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. Robert W. Baird raised their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.85.

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.