Veralto Co. (NYSE:VLTO) Shares Sold by Corundum Group Inc.

Corundum Group Inc. cut its stake in Veralto Co. (NYSE:VLTO) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,329 shares of the company’s stock after selling 108 shares during the period. Corundum Group Inc.’s holdings in Veralto were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of VLTO. Goodman Advisory Group LLC acquired a new stake in shares of Veralto in the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in Veralto during the 1st quarter valued at $30,000. Fairscale Capital LLC acquired a new stake in Veralto during the 2nd quarter valued at $30,000. Hazlett Burt & Watson Inc. increased its position in Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after buying an additional 333 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Veralto in the first quarter worth $33,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Performance

NYSE VLTO opened at $113.60 on Monday. The business’s 50-day simple moving average is $110.66 and its 200-day simple moving average is $102.18. The firm has a market capitalization of $28.04 billion and a P/E ratio of 35.61. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $114.61. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. Veralto’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts predict that Veralto Co. will post 3.46 EPS for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio is presently 11.29%.

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock valued at $4,310,335 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Royal Bank of Canada raised their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Robert W. Baird upped their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $108.00.

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.