Veralto Co. (NYSE:VLTO) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its stake in Veralto Co. (NYSE:VLTO) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,390 shares of the company’s stock after selling 273 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Veralto were worth $491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VLTO. Cetera Investment Advisers boosted its holdings in shares of Veralto by 247.8% in the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after buying an additional 34,505 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Veralto by 19.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock valued at $14,952,000 after purchasing an additional 27,891 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Veralto during the first quarter worth approximately $1,011,000. Canada Pension Plan Investment Board grew its position in Veralto by 32.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock valued at $23,256,000 after buying an additional 60,300 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Veralto by 126.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock valued at $6,460,000 after buying an additional 37,721 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In other Veralto 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 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,038 shares of company stock worth $3,989,693 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Stifel Nicolaus raised their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen increased their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Price Performance

Veralto stock opened at $102.68 on Friday. The firm has a market capitalization of $25.39 billion and a PE ratio of 31.69. Veralto Co. has a 52 week low of $70.06 and a 52 week high of $115.00. The firm’s 50-day simple moving average is $108.69 and its 200 day simple moving average is $104.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. Veralto’s dividend payout ratio (DPR) is 11.11%.

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.