Regency Capital Management Inc. DE Has $4.91 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

Regency Capital Management Inc. DE trimmed its holdings in Veralto Co. (NYSE:VLTO) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,404 shares of the company’s stock after selling 2,359 shares during the period. Veralto comprises about 3.2% of Regency Capital Management Inc. DE’s holdings, making the stock its 14th largest position. Regency Capital Management Inc. DE’s holdings in Veralto were worth $4,908,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $1,507,000. Parallel Advisors LLC bought a new stake in shares of Veralto in the 4th quarter worth $264,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Veralto in the fourth quarter valued at about $376,000. Stifel Financial Corp bought a new position in shares of Veralto during the fourth quarter valued at about $18,073,000. Finally, Allianz Asset Management GmbH purchased a new position in Veralto during the fourth quarter worth about $12,118,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Stifel Nicolaus lifted their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group lifted their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Robert W. Baird increased their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.85.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 directly owns 138,546 shares in the company, valued at $15,514,381.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other 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 sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,096 shares of company stock valued at $2,772,707. Company insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE VLTO opened at $111.86 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $112.77. The stock has a market cap of $27.61 billion and a PE ratio of 33.62. The stock has a fifty day moving average of $108.40 and a 200-day moving average of $99.81.

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

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.32%.

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.