HM Payson & Co. Sells 713 Shares of Veralto Co. (NYSE:VLTO)

HM Payson & Co. reduced its position in Veralto Co. (NYSE:VLTO) by 8.8% in the third quarter, Holdings Channel.com reports. The fund owned 7,374 shares of the company’s stock after selling 713 shares during the quarter. HM Payson & Co.’s holdings in Veralto were worth $825,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Veralto by 31.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,092 shares of the company’s stock valued at $1,427,000 after purchasing an additional 3,820 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Veralto by 5.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 608,241 shares of the company’s stock worth $53,927,000 after acquiring an additional 34,097 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Veralto by 15.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,045 shares of the company’s stock valued at $270,000 after acquiring an additional 414 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Veralto by 5.8% during the 1st quarter. Van ECK Associates Corp now owns 84,228 shares of the company’s stock valued at $7,468,000 after acquiring an additional 4,601 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Veralto by 7.4% during the first quarter. Private Advisor Group LLC now owns 14,153 shares of the company’s stock worth $1,255,000 after purchasing an additional 970 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Down 1.0 %

NYSE VLTO opened at $102.20 on Friday. The stock has a 50-day moving average of $110.22 and a 200-day moving average of $103.15. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 1-year low of $66.69 and a 1-year high of $115.00. The firm has a market cap of $25.27 billion and a PE ratio of 31.54.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share 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 firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VLTO shares. Royal Bank of Canada raised their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Stifel Nicolaus raised their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Seven investment 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 currently has a consensus rating of “Hold” and a consensus price target of $108.27.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,286 shares of company stock worth $3,912,305. 0.31% of the stock is currently owned by company insiders.

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.