Robeco Institutional Asset Management B.V. Sells 172,980 Shares of Veralto Corporation (NYSE:VLTO)

Robeco Institutional Asset Management B.V. cut its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 29.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 406,281 shares of the company's stock after selling 172,980 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.16% of Veralto worth $39,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in Veralto during the 4th quarter worth about $25,000. OFI Invest Asset Management bought a new position in Veralto during the 4th quarter worth about $26,000. Lee Danner & Bass Inc. bought a new position in Veralto during the 4th quarter worth about $43,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Veralto during the fourth quarter valued at about $44,000. Finally, IFP Advisors Inc lifted its position in shares of Veralto by 64.5% during the fourth quarter. IFP Advisors Inc now owns 454 shares of the company's stock valued at $46,000 after buying an additional 178 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VLTO has been the subject of several analyst reports. Royal Bank Of Canada increased 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. Robert W. Baird increased 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. Northcoast Research initiated coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target for the company. Citigroup decreased 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. Finally, Stifel Nicolaus increased 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Veralto has a consensus rating of "Hold" and an average target price of $110.09.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the firm's stock in a transaction that occurred on 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 now directly owns 8,433 shares of the company's stock, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the sale, the senior vice president now directly owns 13,571 shares in the company, valued at $1,368,499.64. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,503 shares of company stock valued at $4,396,629. 0.36% of the stock is owned by insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $101.03 on Friday. The firm has a market capitalization of $25.04 billion, a P/E ratio of 28.87, a PEG ratio of 4.35 and a beta of 0.97. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The company has a 50 day moving average price of $97.94 and a 200 day moving average price of $98.55. Veralto Corporation has a 52 week low of $83.87 and a 52 week high of $115.00.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 0.44%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's dividend payout ratio is presently 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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