Veralto Co. (NYSE:VLTO) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. trimmed its stake in shares of Veralto Co. (NYSE:VLTO) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,096 shares of the company’s stock after selling 164 shares during the period. Sunbelt Securities Inc.’s holdings in Veralto were worth $97,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VLTO. Vanguard Group Inc. acquired a new position in shares of Veralto during the 4th quarter worth $2,127,330,000. Capital International Investors purchased a new position in Veralto during the fourth quarter worth $538,324,000. Brown Advisory Inc. acquired a new position in shares of Veralto in the fourth quarter worth $528,018,000. Impax Asset Management Group plc purchased a new stake in shares of Veralto in the fourth quarter valued at $347,827,000. Finally, Norges Bank acquired a new stake in shares of Veralto during the fourth quarter valued at $266,143,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In related news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Veralto Stock Down 2.1 %

Shares of NYSE:VLTO opened at $95.47 on Friday. The stock has a 50-day simple moving average of $98.09 and a 200-day simple moving average of $88.64. The stock has a market capitalization of $23.57 billion and a P/E ratio of 26.37. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $102.58. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Veralto Co. will post 3.37 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, June 28th. Veralto’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

A number of research analysts have issued reports on VLTO shares. Robert W. Baird upped their target price on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price for the company. TD Cowen started coverage on Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 price target on the stock. BMO Capital Markets lifted their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Veralto currently has an average rating of “Moderate Buy” and an average target price of $96.00.

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.