Veralto Co. (NYSE:VLTO) Short Interest Update

Veralto Co. (NYSE:VLTO) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 2,070,000 shares, a decline of 18.8% from the July 15th total of 2,550,000 shares. Based on an average trading volume of 1,580,000 shares, the short-interest ratio is currently 1.3 days. Approximately 0.9% of the company’s shares are short sold.

Veralto Stock Performance

VLTO traded up $0.14 during mid-day trading on Thursday, reaching $108.65. 521,007 shares of the company traded hands, compared to its average volume of 1,561,822. The company’s fifty day moving average price is $100.52 and its 200-day moving average price is $93.75. The stock has a market capitalization of $26.85 billion and a P/E ratio of 32.05. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto has a 52-week low of $65.51 and a 52-week high of $109.52.

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

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.33%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VLTO. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. UBS Group assumed coverage on Veralto in a report on Tuesday. They set a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada raised their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Stifel Nicolaus lifted their price target on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets increased their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.46.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,055 shares of company stock valued at $428,345. Insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after buying an additional 100 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Veralto by 3.2% in the 1st quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock worth $352,000 after purchasing an additional 123 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Veralto by 2.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock worth $516,000 after purchasing an additional 142 shares during the period. Perkins Coie Trust Co grew its holdings in Veralto by 2.2% during the 2nd quarter. Perkins Coie Trust Co now owns 7,128 shares of the company’s stock valued at $680,000 after buying an additional 151 shares in the last quarter. Finally, Graypoint LLC raised its position in shares of Veralto by 3.8% during the second quarter. Graypoint LLC now owns 4,407 shares of the company’s stock valued at $421,000 after buying an additional 160 shares during the last quarter. 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.