Key Points
- Veralto SVP Melissa Kapity sold 5,146 shares for about $607,537 at an average price of $118.06, reducing her direct ownership by 25.91% to 14,715 shares.
- Latest quarterly results beat expectations: EPS was $1.18 versus $1.09 forecast, while revenue reached $1.51 billion and grew 7.5% year over year.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $120.70; seven analysts rate the stock Buy and three Hold.
Veralto Corporation (NYSE:VLTO - Get Free Report) SVP Melissa Kapity sold 5,146 shares of Veralto stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $118.06, for a total transaction of $607,536.76. Following the completion of the transaction, the senior vice president directly owned 14,715 shares in the company, valued at $1,737,252.90. This represents a 25.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Veralto Stock Performance
Shares of VLTO stock opened at $117.44 on Friday. Veralto Corporation has a 12-month low of $80.03 and a 12-month high of $119.70. The business's fifty day simple moving average is $101.62 and its 200-day simple moving average is $93.82. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. The company has a market cap of $28.55 billion, a PE ratio of 29.07, a PEG ratio of 3.29 and a beta of 0.51.
Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.09. Veralto had a return on equity of 35.08% and a net margin of 17.27%. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the firm earned $0.99 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. Analysts expect that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.
Veralto Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a $0.13 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Veralto's dividend payout ratio (DPR) is 12.87%.
Hedge Funds Weigh In On Veralto
Several hedge funds have recently made changes to their positions in the company. N.F.U. MUTUAL UNIT MANAGERS Ltd acquired a new stake in Veralto during the 3rd quarter worth about $968,000. Gabelli Funds LLC raised its stake in shares of Veralto by 3.4% during the 3rd quarter. Gabelli Funds LLC now owns 20,338 shares of the company's stock valued at $1,918,000 after buying an additional 671 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in shares of Veralto by 79.0% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,159 shares of the company's stock valued at $392,000 after buying an additional 1,835 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Veralto by 6.6% in the 3rd quarter. First Trust Advisors LP now owns 8,728,172 shares of the company's stock valued at $823,241,000 after buying an additional 537,985 shares during the period. Finally, Edgewood Management LLC lifted its holdings in shares of Veralto by 3.1% in the 3rd quarter. Edgewood Management LLC now owns 15,150 shares of the company's stock valued at $1,429,000 after buying an additional 450 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Veralto from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Weiss Ratings upgraded shares of Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 19th. UBS Group increased their price objective on shares of Veralto from $104.00 to $106.00 and gave the company a "neutral" rating in a research report on Monday, October 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $135.00 target price on shares of Veralto in a research note on Friday, October 30th. Finally, Wolfe Research started coverage on shares of Veralto in a research note on Tuesday, September 15th. They issued an "outperform" rating and a $125.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $120.70.
View Our Latest Analysis on VLTO
Veralto Company Profile
(
Get Free Report)
Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.
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