Veralto Co. (NYSE:VLTO) Position Decreased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 42.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,895 shares of the company’s stock after selling 14,117 shares during the period. Douglas Lane & Associates LLC’s holdings in Veralto were worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Blue Trust Inc. acquired a new position in shares of Veralto in the fourth quarter worth about $26,000. First Command Advisory Services Inc. acquired a new position in shares of Veralto in the fourth quarter worth about $25,000. LRI Investments LLC acquired a new position in shares of Veralto in the first quarter worth about $30,000. Delta Asset Management LLC TN boosted its holdings in shares of Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Veralto in the fourth quarter worth about $27,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of VLTO stock traded up $2.13 during mid-day trading on Tuesday, reaching $104.12. The company’s stock had a trading volume of 1,606,571 shares, compared to its average volume of 1,588,440. The company has a market cap of $25.73 billion and a P/E ratio of 31.67. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.56 and a current ratio of 1.96. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $107.86. The firm’s 50-day moving average is $99.57 and its two-hundred day moving average is $92.45.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.80 earnings per share. On average, research analysts predict that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, June 28th.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. TD Cowen increased their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. BMO Capital Markets increased their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada raised their price objective on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.33.

Insiders Place Their Bets

In other news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,055 shares of company stock valued at $428,345 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Veralto Company 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.