Veralto (NYSE:VLTO) CEO Jennifer Honeycutt Sells 7,097 Shares

Veralto Corporation (NYSE:VLTO) CEO Jennifer Honeycutt sold 7,097 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $95.00, for a total transaction of $674,215.00. Following the transaction, the chief executive officer directly owned 124,085 shares of the company’s stock, valued at approximately $11,788,075. This trade represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veralto Price Performance

Shares of Veralto stock traded up $2.57 during trading on Tuesday, hitting $96.85. 604,550 shares of the company were exchanged, compared to its average volume of 2,083,924. Veralto Corporation has a fifty-two week low of $80.03 and a fifty-two week high of $110.11. The company has a quick ratio of 1.32, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average price of $87.81 and a 200 day moving average price of $90.97. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 2.59 and a beta of 0.63.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.05. Veralto had a return on equity of 34.63% and a net margin of 17.33%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $0.95 earnings per share. Veralto’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Veralto Corporation will post 4.24 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, June 30th. Veralto’s dividend payout ratio is 13.44%.

Institutional Investors Weigh In On Veralto

Institutional investors and hedge funds have recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new position in Veralto in the 4th quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Veralto by 82.2% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 286 shares of the company’s stock worth $29,000 after buying an additional 129 shares in the last quarter. Creative Capital Management Investments LLC increased its stake in shares of Veralto by 45.9% in the fourth quarter. Creative Capital Management Investments LLC now owns 340 shares of the company’s stock worth $34,000 after buying an additional 107 shares during the last quarter. DV Equities LLC acquired a new stake in Veralto in the fourth quarter valued at $35,000. Finally, Elyxium Wealth LLC bought a new position in Veralto during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on VLTO. Stifel Nicolaus upped their price objective on shares of Veralto from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Barclays cut their price target on Veralto from $117.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Wolfe Research restated an “outperform” rating and set a $109.00 price objective on shares of Veralto in a report on Thursday, July 9th. Robert W. Baird set a $103.00 price objective on Veralto in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada raised their target price on shares of Veralto from $99.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target of $106.33.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.