Davis R M Inc. Sells 17,278 Shares of Veralto Co. (NYSE:VLTO)

Davis R M Inc. reduced its position in Veralto Co. (NYSE:VLTO) by 32.4% in the third quarter, Holdings Channel.com reports. The fund owned 36,084 shares of the company’s stock after selling 17,278 shares during the quarter. Davis R M Inc.’s holdings in Veralto were worth $4,036,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its stake in Veralto by 6.6% during the third quarter. Daiwa Securities Group Inc. now owns 89,350 shares of the company’s stock valued at $9,995,000 after buying an additional 5,562 shares during the period. Centaurus Financial Inc. raised its holdings in shares of Veralto by 15.5% in the 3rd quarter. Centaurus Financial Inc. now owns 2,051 shares of the company’s stock valued at $229,000 after acquiring an additional 276 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Veralto by 562.3% during the 3rd quarter. Larson Financial Group LLC now owns 755 shares of the company’s stock valued at $84,000 after acquiring an additional 641 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Veralto by 34.3% during the third quarter. Cerity Partners LLC now owns 66,482 shares of the company’s stock worth $7,437,000 after purchasing an additional 16,977 shares in the last quarter. Finally, Nwam LLC bought a new position in shares of Veralto in the third quarter worth approximately $332,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,639 shares of company stock valued at $3,175,803 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on VLTO shares. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus raised their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.27.

Veralto Price Performance

Shares of VLTO opened at $106.41 on Monday. The company has a market capitalization of $26.32 billion and a P/E ratio of 32.84. Veralto Co. has a twelve month low of $72.23 and a twelve month high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The firm has a 50 day moving average of $108.11 and a 200 day moving average of $104.50.

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

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

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.