Douglass Winthrop Advisors LLC Reduces Holdings in Veralto Co. (NYSE:VLTO)

Douglass Winthrop Advisors LLC lowered its position in Veralto Co. (NYSE:VLTO) by 32.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,348 shares of the company’s stock after selling 3,088 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Veralto were worth $710,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Veralto in the third quarter worth $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of Veralto in the first quarter valued at approximately $30,000. Fairscale Capital LLC bought a new position in shares of Veralto during the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VLTO. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group initiated coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. TD Cowen raised their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets raised their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $108.27.

Insider Buying and Selling

In other news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO stock opened at $108.48 on Tuesday. The stock has a market cap of $26.83 billion and a PE ratio of 33.48. Veralto Co. has a 52-week low of $72.85 and a 52-week high of $115.00. The business has a 50-day simple moving average of $108.08 and a 200-day simple moving average of $104.59. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the business posted $0.75 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. Veralto’s dividend payout ratio (DPR) is 11.11%.

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.