Veralto Co. (NYSE:VLTO) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 46.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,039 shares of the company’s stock after selling 3,436 shares during the quarter. OLD National Bancorp IN’s holdings in Veralto were worth $386,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VLTO. First Command Advisory Services Inc. acquired a new stake in shares of Veralto during the 4th quarter worth approximately $25,000. Delta Asset Management LLC TN lifted its stake in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 216 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Veralto during the fourth quarter worth about $27,000. Johnson Financial Group Inc. bought a new position in shares of Veralto during the fourth quarter worth about $27,000. Finally, Hexagon Capital Partners LLC acquired a new stake in shares of Veralto in the 4th quarter worth about $29,000. Institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. The Goldman Sachs Group increased their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.33.

Veralto Price Performance

NYSE:VLTO traded down $1.14 during mid-day trading on Friday, reaching $106.10. 1,466,862 shares of the stock were exchanged, compared to its average volume of 1,582,295. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The business has a fifty day moving average price of $100.07 and a 200 day moving average price of $93.00. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $107.86. The firm has a market capitalization of $26.22 billion and a PE ratio of 31.46.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.09 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%.

Insider Activity

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

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.