Brown Advisory Inc. Decreases Stock Position in Veralto Corporation (NYSE:VLTO)

Brown Advisory Inc. lowered its position in Veralto Corporation (NYSE:VLTO - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,670,467 shares of the company's stock after selling 124,087 shares during the period. Veralto makes up about 0.9% of Brown Advisory Inc.'s investment portfolio, making the stock its 27th biggest position. Brown Advisory Inc. owned approximately 2.69% of Veralto worth $650,037,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VLTO. Park Avenue Securities LLC grew its position in shares of Veralto by 11.5% in the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock valued at $1,872,000 after purchasing an additional 1,985 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Veralto by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock worth $856,000 after buying an additional 113 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Veralto by 9.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 26,833 shares of the company's stock worth $2,619,000 after acquiring an additional 2,313 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Veralto by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock valued at $1,417,000 after acquiring an additional 429 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Veralto by 12.8% during the first quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock valued at $287,000 after acquiring an additional 333 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on VLTO. Stifel Nicolaus boosted their target price on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Royal Bank Of Canada boosted their price objective 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. Citigroup reduced their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Northcoast Research assumed coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price for the company. Finally, Robert W. Baird boosted their price target on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $110.09.

Insider Transactions at Veralto

In other Veralto news, SVP Melissa Aquino sold 31,689 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the completion of the sale, the senior vice president directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mattias Bystrom sold 2,500 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $99.96, for a total transaction of $249,900.00. Following the completion of the transaction, the senior vice president directly owned 32,430 shares in the company, valued at approximately $3,241,702.80. This represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,913 shares of company stock valued at $4,339,370 in the last three months. 0.36% of the stock is owned by company insiders.

Veralto Trading Down 1.2%

Shares of VLTO traded down $1.24 during mid-day trading on Friday, reaching $101.89. The company had a trading volume of 734,595 shares, compared to its average volume of 1,402,686. Veralto Corporation has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The firm has a fifty day simple moving average of $100.04 and a 200-day simple moving average of $98.48. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 4.13 and a beta of 0.91. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's dividend payout ratio (DPR) is presently 12.57%.

Veralto 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.