Veralto Co. (NYSE:VLTO) Short Interest Update

Veralto Co. (NYSE:VLTO) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,070,000 shares, a decline of 18.8% from the July 15th total of 2,550,000 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is presently 1.3 days.

Insider Buying and Selling

In other Veralto news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction that occurred 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 transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Veralto news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,055 shares of company stock valued at $428,345 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of institutional investors have recently added to or reduced their stakes in VLTO. International Assets Investment Management LLC acquired a new stake in shares of Veralto in the 4th quarter valued at $3,241,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Veralto during the fourth quarter worth approximately $3,061,000. Allspring Global Investments Holdings LLC acquired a new stake in Veralto in the 4th quarter valued at about $1,009,000. Sequoia Financial Advisors LLC bought a new stake in Veralto during the 4th quarter worth about $386,000. Finally, Cerity Partners LLC acquired a new position in Veralto during the 4th quarter valued at about $4,610,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Performance

VLTO traded up $0.14 on Thursday, hitting $108.65. 521,007 shares of the stock traded hands, compared to its average volume of 1,561,822. The business has a fifty day moving average price of $100.52 and a two-hundred day moving average price of $93.75. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. Veralto has a 52 week low of $65.51 and a 52 week high of $109.52. The firm has a market capitalization of $26.85 billion and a PE ratio of 32.05.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Veralto’s revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that Veralto will post 3.45 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Friday, June 28th.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen raised their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. BMO Capital Markets upped their target price on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Robert W. Baird lifted their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, UBS Group initiated coverage on shares of Veralto in a research note on Tuesday. They issued a “neutral” rating and a $118.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.46.

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.