Veralto Co. (NYSE:VLTO) Shares Sold by Cortland Associates Inc. MO

Cortland Associates Inc. MO decreased its position in Veralto Co. (NYSE:VLTO) by 0.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 49,751 shares of the company’s stock after selling 337 shares during the period. Veralto comprises approximately 0.7% of Cortland Associates Inc. MO’s portfolio, making the stock its 23rd biggest holding. Cortland Associates Inc. MO’s holdings in Veralto were worth $5,565,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in VLTO. Robeco Institutional Asset Management B.V. boosted its stake in shares of Veralto by 2.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 79,526 shares of the company’s stock worth $8,896,000 after purchasing an additional 2,011 shares during the last quarter. Van ECK Associates Corp increased its holdings in Veralto by 1.2% in the 3rd quarter. Van ECK Associates Corp now owns 82,906 shares of the company’s stock valued at $9,197,000 after purchasing an additional 951 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Veralto by 66.9% in the third quarter. Janney Montgomery Scott LLC now owns 51,475 shares of the company’s stock valued at $5,758,000 after purchasing an additional 20,639 shares during the period. F M Investments LLC acquired a new position in shares of Veralto during the third quarter worth about $1,380,000. Finally, James Investment Research Inc. bought a new position in Veralto during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,286 shares of company stock valued at $3,912,305 over the last three months. 0.31% of the stock is owned by corporate insiders.

Veralto Trading Down 0.6 %

NYSE:VLTO opened at $101.59 on Monday. The stock has a fifty day simple moving average of $110.01 and a 200 day simple moving average of $103.41. The firm has a market capitalization of $25.12 billion and a price-to-earnings ratio of 31.35. Veralto Co. has a 1-year low of $66.69 and a 1-year 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.

Veralto (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. Veralto’s dividend payout ratio is 11.11%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VLTO. The Goldman Sachs Group raised their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.27.

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.