Veralto Co. (NYSE:VLTO) Shares Sold by Sandy Spring Bank

Sandy Spring Bank lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 7.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,655 shares of the company’s stock after selling 865 shares during the quarter. Sandy Spring Bank’s holdings in Veralto were worth $1,085,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VLTO. OFI Invest Asset Management acquired a new stake in Veralto in the fourth quarter valued at approximately $26,000. BankPlus Trust Department acquired a new stake in Veralto in the fourth quarter valued at approximately $29,000. Albion Financial Group UT grew its position in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 336 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Veralto in the fourth quarter valued at approximately $42,000. Finally, Raleigh Capital Management Inc. grew its position in Veralto by 35.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VLTO. Citigroup lowered their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group began coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Stifel Nicolaus decreased their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $113.50.

Veralto Stock Performance

Shares of VLTO opened at $98.14 on Friday. The business’s fifty day moving average price is $100.03 and its 200 day moving average price is $104.54. Veralto Co. has a 12-month low of $85.91 and a 12-month high of $115.00. The stock has a market capitalization of $24.29 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities research analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Insider Buying and Selling

In other Veralto news, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock worth $1,150,366 over the last ninety days. 0.31% of the stock is owned by 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.