OVERSEA CHINESE BANKING Corp Ltd Sells 66,517 Shares of Veralto Co. (NYSE:VLTO)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Veralto Co. (NYSE:VLTO) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,512 shares of the company’s stock after selling 66,517 shares during the quarter. Veralto accounts for 1.2% of OVERSEA CHINESE BANKING Corp Ltd’s portfolio, making the stock its 17th largest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Veralto were worth $42,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Veralto in the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC bought a new stake in Veralto in the second quarter valued at approximately $26,000. Fairscale Capital LLC bought a new position in shares of Veralto in the second quarter worth approximately $30,000. Raleigh Capital Management Inc. increased its stake in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares during the period. Finally, LRI Investments LLC bought a new stake in Veralto during the 1st quarter valued at $30,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

Shares of Veralto stock opened at $104.39 on Tuesday. The business has a fifty day simple moving average of $109.24 and a two-hundred day simple moving average of $103.86. The firm has a market capitalization of $25.82 billion and a P/E ratio of 32.22. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 12 month low of $70.06 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping 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 business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. On average, 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. Investors of record on Friday, September 27th were given 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 dividend payout ratio (DPR) is presently 11.11%.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction 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 approximately $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred 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 directly owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The shares were 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 owns 138,546 shares in the company, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,038 shares of company stock worth $3,989,693. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

VLTO has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veralto presently has an average rating of “Hold” and an average price target 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.