MAI Capital Management Sells 1,111 Shares of Veralto Co. (NYSE:VLTO)

MAI Capital Management lowered its position in shares of Veralto Co. (NYSE:VLTO) by 14.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,330 shares of the company’s stock after selling 1,111 shares during the period. MAI Capital Management’s holdings in Veralto were worth $708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in shares of Veralto by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after buying an additional 100 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after buying an additional 100 shares during the last quarter. Strategic Blueprint LLC grew its position in shares of Veralto by 4.5% in the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after buying an additional 102 shares during the last quarter. Graypoint LLC grew its position in shares of Veralto by 2.4% in the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company’s stock valued at $505,000 after buying an additional 107 shares during the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of Veralto by 1.8% in the 3rd quarter. Sentry Investment Management LLC now owns 5,999 shares of the company’s stock valued at $671,000 after buying an additional 108 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Robert W. Baird upped their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets upped their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $108.27.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,639 shares of company stock valued at $3,175,803 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Veralto Stock Up 0.4 %

VLTO stock opened at $106.41 on Friday. The stock’s 50 day simple moving average is $108.11 and its 200 day simple moving average is $104.40. Veralto Co. has a fifty-two week low of $72.23 and a fifty-two 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 $26.32 billion and a P/E ratio of 32.84.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping 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 business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

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.