Key Points
- Veralto CAO Bernard Skeete sold 1,514 shares for $170,446, reducing his stake by 24.13%; he retained 4,760 shares.
- Veralto reported quarterly EPS of $1.18, topping the $1.09 consensus, while revenue reached $1.51 billion and rose 7.5% year over year.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $120.70; Barclays raised its target to $129 and reiterated an “overweight” rating.
Veralto Corporation (NYSE:VLTO - Get Free Report) CAO Bernard Skeete sold 1,514 shares of Veralto stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $112.58, for a total transaction of $170,446.12. Following the completion of the sale, the chief accounting officer owned 4,760 shares of the company's stock, valued at approximately $535,880.80. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Veralto Stock Performance
NYSE:VLTO opened at $117.07 on Thursday. The stock has a fifty day moving average price of $99.27 and a 200-day moving average price of $93.34. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 3.22 and a beta of 0.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.61 and a current ratio of 2.03. Veralto Corporation has a fifty-two week low of $80.03 and a fifty-two week high of $118.41.
Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.09 by $0.09. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. As a group, equities analysts anticipate that Veralto Corporation will post 4.51 EPS for the current fiscal year.
Veralto Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were given a $0.13 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Veralto's dividend payout ratio (DPR) is currently 12.87%.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Highland Investment Advisors LLC bought a new stake in shares of Veralto during the 2nd quarter worth $32,000. Provenance Wealth Advisors LLC boosted its holdings in shares of Veralto by 997.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company's stock worth $40,000 after buying an additional 389 shares during the last quarter. Putney Financial Group LLC purchased a new position in shares of Veralto in the 3rd quarter worth about $42,000. Latitude Advisors LLC bought a new position in Veralto during the third quarter valued at about $47,000. Finally, International Assets Investment Management LLC bought a new position in Veralto during the first quarter valued at about $66,000. Institutional investors own 91.28% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Barclays increased their price objective on Veralto from $117.00 to $129.00 and gave the company an "overweight" rating in a report on Monday. Wall Street Zen downgraded Veralto from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. Wolfe Research started coverage on Veralto in a research report on Tuesday, September 15th. They issued an "outperform" rating and a $125.00 price target on the stock. UBS Group upped their price target on Veralto from $104.00 to $106.00 and gave the company a "neutral" rating in a research report on Monday, October 5th. Finally, Citigroup increased their price target on Veralto from $107.00 to $120.00 and gave the company a "neutral" rating in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.70.
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About Veralto
(
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Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.
Veralto's Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.
The company's Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.
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