Mattias Bystrom Sells 302 Shares of Veralto Co. (NYSE:VLTO) Stock

Veralto Co. (NYSE:VLTO) SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The shares were 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 directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Veralto Stock Performance

Shares of VLTO traded up $2.33 during mid-day trading on Friday, hitting $102.19. 1,867,268 shares of the company’s stock were exchanged, compared to its average volume of 1,251,732. 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 Co. has a fifty-two week low of $65.51 and a fifty-two week high of $102.31. The business’s 50 day moving average is $92.46 and its two-hundred day moving average is $83.99.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts expect that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.35%.

Hedge Funds Weigh In On Veralto

A number of large investors have recently bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new position in Veralto during the fourth quarter worth $25,000. First Command Advisory Services Inc. purchased a new position in shares of Veralto in the 4th quarter valued at about $25,000. Blue Trust Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at about $26,000. Delta Asset Management LLC TN boosted its holdings in Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares in the last quarter. Finally, Dougherty Wealth Advisers LLC purchased a new stake in Veralto during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird increased their price objective on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Royal Bank of Canada boosted their price objective on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Stifel Nicolaus upped their target price on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Citigroup lifted their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.18.

About Veralto

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.