First Horizon Advisors Inc. Sells 230 Shares of Veralto Co. (NYSE:VLTO)

First Horizon Advisors Inc. lessened its position in Veralto Co. (NYSE:VLTO) by 27.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 594 shares of the company’s stock after selling 230 shares during the period. First Horizon Advisors Inc.’s holdings in Veralto were worth $66,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in Veralto by 262.5% during the third quarter. Avior Wealth Management LLC now owns 1,084 shares of the company’s stock worth $121,000 after acquiring an additional 785 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Veralto by 2.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 95,110 shares of the company’s stock valued at $10,639,000 after purchasing an additional 2,355 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Veralto in the 3rd quarter valued at approximately $7,090,000. Fifth Third Wealth Advisors LLC increased its stake in Veralto by 6.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,041 shares of the company’s stock worth $340,000 after purchasing an additional 195 shares in the last quarter. Finally, Knuff & Co LLC raised its holdings in Veralto by 32.9% during the 3rd quarter. Knuff & Co LLC now owns 6,441 shares of the company’s stock worth $720,000 after buying an additional 1,594 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VLTO has been the subject of several research reports. Robert W. Baird increased their price objective 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. Royal Bank of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets increased 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. UBS Group initiated coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Price Performance

VLTO stock opened at $106.41 on Monday. The company’s 50-day moving average price is $108.11 and its two-hundred day moving average price is $104.50. The firm has a market cap of $26.32 billion and a P/E ratio of 32.84. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 12 month low of $72.23 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate 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. Investors of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. Veralto’s payout ratio is 11.11%.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. 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 in the last three months. Insiders own 0.31% of the company’s stock.

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.