Capital Investment Services of America Inc. Lowers Stock Position in Veralto Co. (NYSE:VLTO)

Capital Investment Services of America Inc. cut its stake in shares of Veralto Co. (NYSE:VLTO) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,024 shares of the company’s stock after selling 1,246 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Veralto were worth $2,240,000 at the end of the most recent reporting period.

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

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. 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 is available through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the sale, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,286 shares of company stock worth $3,912,305. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on VLTO. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. The Goldman Sachs Group raised their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Veralto has a consensus rating of “Hold” and an average price target of $108.27.

Veralto Trading Up 0.6 %

Shares of NYSE VLTO traded up $0.59 during trading hours on Monday, hitting $102.18. 184,237 shares of the company traded hands, compared to its average volume of 1,542,032. Veralto Co. has a 12 month low of $67.36 and a 12 month high of $115.00. The stock has a market capitalization of $25.27 billion and a price-to-earnings ratio of 31.35. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The company’s 50 day moving average price is $110.01 and its 200 day moving average price is $103.41.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid 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 yield of 0.35%. Veralto’s payout ratio is 11.11%.

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.