Janney Montgomery Scott LLC Sells 4,883 Shares of Veralto Corporation (NYSE:VLTO)

Janney Montgomery Scott LLC lessened its holdings in Veralto Corporation (NYSE:VLTO) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,652 shares of the company’s stock after selling 4,883 shares during the period. Janney Montgomery Scott LLC’s holdings in Veralto were worth $4,936,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new stake in Veralto in the fourth quarter worth $25,000. OFI Invest Asset Management bought a new position in Veralto during the fourth quarter valued at $26,000. BankPlus Trust Department bought a new position in Veralto during the fourth quarter valued at $29,000. Lee Danner & Bass Inc. bought a new position in Veralto during the fourth quarter valued at $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Veralto during the fourth quarter valued at $44,000. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Northcoast Research assumed coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective on the stock. Citigroup cut their price objective on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus boosted their price objective on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Royal Bank Of Canada boosted their price objective on shares of Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. Finally, Robert W. Baird boosted their price objective on shares of Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.09.

Insider Transactions at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president now directly owns 13,571 shares of the company’s stock, valued at $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 848 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the completion of the sale, the senior vice president now directly owns 8,433 shares of the company’s stock, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,503 shares of company stock worth $4,396,629. Insiders own 0.36% of the company’s stock.

Veralto Trading Down 0.3%

NYSE VLTO opened at $96.74 on Monday. The company’s 50-day moving average price is $96.90 and its 200-day moving average price is $98.65. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The stock has a market cap of $23.98 billion, a PE ratio of 27.64, a PEG ratio of 4.16 and a beta of 0.97. Veralto Corporation has a 12 month low of $83.87 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. Equities research analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, June 30th. Veralto’s payout ratio is presently 12.57%.

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.