Advisors Asset Management Inc. Sells 407 Shares of Veralto Co. (NYSE:VLTO)

Advisors Asset Management Inc. trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 31.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 884 shares of the company’s stock after selling 407 shares during the period. Advisors Asset Management Inc.’s holdings in Veralto were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Veralto by 207.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new stake in Veralto in the second quarter worth $39,343,000. Point72 Asset Management L.P. bought a new stake in Veralto in the second quarter valued at $24,618,000. Intech Investment Management LLC purchased a new position in Veralto during the 2nd quarter valued at $20,913,000. Finally, Bank of New York Mellon Corp raised its holdings in Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after purchasing an additional 200,657 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VLTO. 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 target for the company. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Veralto currently has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Stock Up 0.2 %

NYSE:VLTO opened at $108.22 on Friday. 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 firm has a market cap of $26.76 billion and a P/E ratio of 33.40. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. The firm has a 50-day simple moving average of $108.00 and a two-hundred day simple moving average of $104.81.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction 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 $1,071,601.83. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,448 shares of company stock valued at $1,698,675. 0.31% of the stock is owned by insiders.

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.