TCTC Holdings LLC Sells 525 Shares of Veralto Co. (NYSE:VLTO)

TCTC Holdings LLC lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 28.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,303 shares of the company’s stock after selling 525 shares during the period. TCTC Holdings LLC’s holdings in Veralto were worth $146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Goodman Advisory Group LLC acquired a new stake in shares of Veralto in the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new position in Veralto during the first quarter worth $30,000. Fairscale Capital LLC bought a new position in Veralto in the second quarter valued at $30,000. Hazlett Burt & Watson Inc. increased its stake in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Up 1.2 %

NYSE:VLTO opened at $105.55 on Friday. The company has a market cap of $26.10 billion and a PE ratio of 32.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. Veralto Co. has a one year low of $69.09 and a one year high of $115.00. The firm’s 50 day simple moving average is $109.24 and its 200 day simple moving average is $103.71.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

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

Analysts Set New Price Targets

VLTO has been the topic of several analyst reports. BMO Capital Markets upped their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Robert W. Baird boosted 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. TD Cowen increased their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group initiated coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $108.27.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Veralto news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,038 shares of company stock worth $3,989,693 over the last three months. 0.31% of the stock is owned by company insiders.

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.