Veralto Co. (NYSE:VLTO) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors cut its position in Veralto Co. (NYSE:VLTO) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,382 shares of the company’s stock after selling 415 shares during the quarter. Tower Bridge Advisors’ holdings in Veralto were worth $938,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VLTO. Oregon Public Employees Retirement Fund lifted its position in Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after acquiring an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after acquiring an additional 100 shares during the period. Strategic Blueprint LLC lifted its position in Veralto by 4.5% during the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after acquiring an additional 102 shares during the period. Graypoint LLC lifted its position in Veralto by 2.4% during the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after acquiring an additional 107 shares during the period. Finally, Sentry Investment Management LLC lifted its position in Veralto by 1.8% during the 3rd quarter. Sentry Investment Management LLC now owns 5,999 shares of the company’s stock worth $671,000 after acquiring an additional 108 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Performance

Shares of VLTO stock opened at $102.68 on Friday. The stock has a market cap of $25.39 billion and a PE ratio of 31.69. The stock has a fifty day moving average price of $108.57 and a 200 day moving average price of $104.13. Veralto Co. has a 1 year low of $70.06 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

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

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given 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 was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,393,810. The trade was a 36.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,038 shares of company stock valued at $3,989,693. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on VLTO shares. 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. Royal Bank of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. UBS Group assumed coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $108.27.

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.