Pitcairn Co. Sells 5,018 Shares of Veralto Co. (NYSE:VLTO)

Pitcairn Co. reduced its stake in shares of Veralto Co. (NYSE:VLTO) by 15.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,259 shares of the company’s stock after selling 5,018 shares during the quarter. Pitcairn Co.’s holdings in Veralto were worth $3,049,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VLTO. Ashton Thomas Securities LLC bought a new position in Veralto during the third quarter valued at about $25,000. Goodman Advisory Group LLC bought a new position in shares of Veralto in the second quarter worth about $26,000. LRI Investments LLC bought a new position in shares of Veralto in the first quarter worth about $30,000. Fairscale Capital LLC bought a new position in shares of Veralto in the second quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. increased its stake 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 purchasing an additional 333 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Up 0.4 %

NYSE VLTO opened at $106.41 on Friday. 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 stock’s 50 day moving average is $108.11 and its two-hundred day moving average is $104.40. The company has a market capitalization of $26.32 billion and a price-to-earnings ratio of 32.84. Veralto Co. has a 1-year low of $72.23 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. Equities analysts forecast 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. Shareholders of record on Friday, September 27th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s payout ratio is 11.11%.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at $1,256,620.75. The trade was a 6.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VLTO shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. UBS Group began coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $108.27.

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.