Veralto Co. (NYSE:VLTO) CEO Sells $1,026,403.84 in Stock

Veralto Co. (NYSE:VLTO) CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the transaction, the chief executive officer now owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. This trade represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Jennifer Honeycutt also recently made the following trade(s):

• On Tuesday, February 25th, Jennifer Honeycutt sold 10,414 shares of Veralto stock. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90.

Veralto Stock Performance

Shares of NYSE VLTO traded down $0.52 during trading hours on Tuesday, reaching $97.74. 1,201,945 shares of the stock were exchanged, compared to its average volume of 1,413,474. The stock’s fifty day simple moving average is $99.93 and its 200 day simple moving average is $104.27. The firm has a market capitalization of $24.20 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Sell-side analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio is presently 13.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VLTO. Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus cut their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Royal Bank of Canada reduced their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VLTO. Bernard Wealth Management Corp. bought a new position in shares of Veralto in the 4th quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Veralto in the fourth quarter worth approximately $26,000. BankPlus Trust Department purchased a new stake in Veralto in the fourth quarter valued at about $29,000. Albion Financial Group UT boosted its holdings in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Veralto in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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.