Crestwood Advisors Group LLC Decreases Position in Veralto Corporation (NYSE:VLTO)

Crestwood Advisors Group LLC cut its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 26.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,038 shares of the company's stock after selling 13,350 shares during the period. Crestwood Advisors Group LLC's holdings in Veralto were worth $3,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Veralto by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock valued at $2,989,011,000 after acquiring an additional 146,234 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Veralto by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock valued at $670,781,000 after buying an additional 733,056 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Veralto by 1.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock valued at $485,304,000 after acquiring an additional 54,795 shares during the period. Invesco Ltd. boosted its holdings in Veralto by 9.7% in the 4th quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock worth $462,538,000 after buying an additional 401,228 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Veralto by 13.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock worth $415,074,000 after buying an additional 509,104 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $100.55, for a total transaction of $85,266.40. Following the completion of the transaction, the senior vice president directly owned 8,433 shares of the company's stock, valued at $847,938.15. This trade represents a 9.14% decrease in their position. The sale 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 dated 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 transaction, the senior vice president directly owned 17,434 shares of the company's stock, valued at $1,633,042.78. This represents a 64.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,913 shares of company stock worth $4,339,370 in the last ninety days. 0.36% of the stock is owned by insiders.

Veralto Stock Down 1.1%

VLTO stock opened at $102.19 on Tuesday. Veralto Corporation has a 12 month low of $83.87 and a 12 month high of $115.00. The firm has a market cap of $25.33 billion, a PE ratio of 29.20, a P/E/G ratio of 4.14 and a beta of 0.91. The firm has a 50 day simple moving average of $100.61 and a 200 day simple moving average of $98.41. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.19 and a quick ratio of 1.92.

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

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a research report on Monday. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price on the stock. Royal Bank Of Canada boosted their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird boosted their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Veralto has an average rating of "Hold" and a consensus price target of $111.18.

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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