Cresset Asset Management LLC Has $1.21 Million Stake in Veralto Co. (NYSE:VLTO)

Cresset Asset Management LLC decreased its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 55.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,888 shares of the company's stock after selling 14,934 shares during the quarter. Cresset Asset Management LLC's holdings in Veralto were worth $1,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of VLTO. Barclays PLC grew its position in shares of Veralto by 43.8% during the 3rd quarter. Barclays PLC now owns 729,081 shares of the company's stock worth $81,556,000 after buying an additional 222,076 shares during the period. JPMorgan Chase & Co. grew its position in shares of Veralto by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company's stock worth $273,906,000 after buying an additional 314,412 shares during the period. First Hawaiian Bank grew its position in shares of Veralto by 49.6% during the 4th quarter. First Hawaiian Bank now owns 3,883 shares of the company's stock worth $395,000 after buying an additional 1,287 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Veralto by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 70,415 shares of the company's stock worth $7,877,000 after buying an additional 218 shares during the period. Finally, Czech National Bank grew its position in shares of Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company's stock worth $5,461,000 after buying an additional 3,284 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Wall Street Analyst Weigh In

VLTO has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Northcoast Research initiated coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target for the company. Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Finally, Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Six 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, the company currently has an average rating of "Hold" and a consensus price target of $110.09.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 10,418 shares of Veralto stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the sale, the chief executive officer now directly owns 106,219 shares in the company, valued at $10,090,805. The trade was a 8.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the sale, the senior vice president now owns 17,434 shares in the company, valued at $1,633,042.78. The trade was a 64.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,578 shares of company stock worth $6,192,048 in the last ninety days. Company insiders own 0.36% of the company's stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $97.07 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock's fifty day simple moving average is $94.22 and its two-hundred day simple moving average is $99.74. Veralto Co. has a 1-year low of $83.87 and a 1-year high of $115.00. The stock has a market cap of $24.06 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the business earned $0.84 EPS. The business's revenue was up 6.9% on a year-over-year basis. As a group, analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, March 31st. Veralto's payout ratio is 12.57%.

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.

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