Taurus Asset Management LLC Sells 2,819 Shares of Veralto Co. (NYSE:VLTO)

Taurus Asset Management LLC lessened its holdings in Veralto Co. (NYSE:VLTO) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,573 shares of the company’s stock after selling 2,819 shares during the quarter. Taurus Asset Management LLC’s holdings in Veralto were worth $3,867,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in Veralto by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after purchasing an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Veralto by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after purchasing an additional 100 shares during the period. Strategic Blueprint LLC lifted its position in Veralto by 4.5% during the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after purchasing an additional 102 shares during the period. Graypoint LLC lifted its position in Veralto by 2.4% during the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares during the period. Finally, Sentry Investment Management LLC lifted its position in Veralto by 1.8% during the third quarter. Sentry Investment Management LLC now owns 5,999 shares of the company’s stock worth $671,000 after purchasing an additional 108 shares during the period. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Robert W. Baird increased their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Finally, Stifel Nicolaus increased their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.27.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Performance

Veralto stock opened at $102.68 on Monday. The business has a 50 day moving average of $108.57 and a 200-day moving average 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 current ratio of 2.13 and a quick ratio of 1.87. The company has a market capitalization of $25.39 billion and a P/E ratio of 31.69.

Veralto (NYSE:VLTO) last released its quarterly earnings data 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. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities research analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced 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 is presently 11.11%.

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.