Ballentine Partners LLC Cuts Position in Veralto Co. (NYSE:VLTO)

Ballentine Partners LLC decreased its position in shares of Veralto Co. (NYSE:VLTO) by 8.7% during the third quarter, HoldingsChannel reports. The firm owned 3,997 shares of the company’s stock after selling 382 shares during the period. Ballentine Partners LLC’s holdings in Veralto were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in Veralto by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after buying an additional 100 shares during the last quarter. Perkins Coie Trust Co boosted its stake in shares of Veralto by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 7,253 shares of the company’s stock valued at $811,000 after purchasing an additional 125 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Veralto by 16.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 910 shares of the company’s stock valued at $102,000 after purchasing an additional 126 shares during the last quarter. Private Advisor Group LLC raised its position in Veralto by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 15,282 shares of the company’s stock worth $1,709,000 after purchasing an additional 141 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in Veralto by 2.7% in the second quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock worth $516,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BMO Capital Markets lifted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. The Goldman Sachs Group increased their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $108.27.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction dated Monday, September 30th. The stock was 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 owns 138,546 shares of the company’s stock, valued at $15,260,841.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on Monday, September 30th. The stock was 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 owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,039 shares of company stock valued at $3,992,665. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $104.05 on Monday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $115.00. The firm has a market capitalization of $25.68 billion and a P/E ratio of 32.62. 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 business has a fifty day simple moving average of $110.75 and a two-hundred day simple moving average of $102.83.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Veralto Co. will post 3.46 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto’s payout ratio is 11.29%.

Veralto 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.