Pitcairn Co. Lowers Stake in Veralto Co. (NYSE:VLTO)

Pitcairn Co. decreased its stake in Veralto Co. (NYSE:VLTO) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,259 shares of the company’s stock after selling 5,018 shares during the period. Pitcairn Co.’s holdings in Veralto were worth $3,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto in the third quarter worth about $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Veralto in the second quarter worth about $26,000. Fairscale Capital LLC acquired a new position in shares of Veralto in the second quarter worth about $30,000. Raleigh Capital Management Inc. lifted its stake in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Veralto in the first quarter worth about $30,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the topic of several recent analyst reports. BMO Capital Markets boosted 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. TD Cowen upped their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Robert W. Baird upped their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $108.27.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,639 shares of company stock valued at $3,175,803 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Up 0.4 %

Shares of VLTO stock opened at $106.41 on Friday. Veralto Co. has a 1 year low of $72.23 and a 1 year high of $115.00. The stock has a market cap of $26.32 billion and a PE ratio of 32.84. The business’s fifty day moving average is $108.11 and its 200-day moving average is $104.40. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last released its quarterly earnings data 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. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. Equities analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is presently 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.