Veralto Co. (NYSE:VLTO) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in Veralto Co. (NYSE:VLTOFree Report) by 38.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,949 shares of the company’s stock after selling 18,864 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Veralto were worth $2,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC acquired a new position in shares of Veralto during the 4th quarter valued at $3,202,000. Factory Mutual Insurance Co. purchased a new stake in shares of Veralto in the fourth quarter worth about $9,260,000. State of Michigan Retirement System acquired a new stake in shares of Veralto in the fourth quarter valued at about $4,940,000. Dimensional Fund Advisors LP purchased a new stake in shares of Veralto during the 4th quarter valued at about $79,075,000. Finally, Wells Fargo & Company MN acquired a new position in Veralto during the 4th quarter worth approximately $25,633,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BNP Paribas started coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective on the stock. TD Cowen assumed coverage on shares of Veralto in a report on Monday, June 17th. They issued a “hold” rating and a $95.00 price objective on the stock. The Goldman Sachs Group started coverage on Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. Finally, Citigroup raised their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Read Our Latest Report on VLTO

Veralto Price Performance

Shares of NYSE:VLTO opened at $95.21 on Thursday. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $102.58. The company’s fifty day moving average is $98.24 and its two-hundred day moving average is $88.98. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTOGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.38%.

Insiders Place Their Bets

In other news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

About Veralto

(Free Report)

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.

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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