Silvercrest Asset Management Group LLC Sells 23,767 Shares of Veralto Co. (NYSE:VLTO)

Silvercrest Asset Management Group LLC lowered its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 61.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,786 shares of the company's stock after selling 23,767 shares during the period. Silvercrest Asset Management Group LLC's holdings in Veralto were worth $1,506,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Veralto during the 4th quarter valued at about $25,000. OFI Invest Asset Management bought a new position in Veralto during the fourth quarter valued at approximately $26,000. BankPlus Trust Department bought a new position in Veralto during the fourth quarter valued at approximately $29,000. Albion Financial Group UT boosted its holdings in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after purchasing an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in Veralto in the 4th quarter worth approximately $42,000. Institutional investors own 91.28% of the company's stock.

Veralto Price Performance

Shares of NYSE VLTO traded down $0.51 during midday trading on Friday, reaching $100.47. The stock had a trading volume of 1,065,171 shares, compared to its average volume of 1,479,162. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. Veralto Co. has a 12-month low of $83.87 and a 12-month high of $115.00. The stock has a 50-day moving average of $94.76 and a 200-day moving average of $99.66. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business posted $0.84 EPS. Veralto's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

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 paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's dividend payout ratio (DPR) is presently 12.57%.

Analysts Set New Price Targets

VLTO has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. 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. Robert W. Baird upped 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. Royal Bank of Canada increased their price objective 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, Citigroup reduced their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Veralto currently has a consensus rating of "Hold" and an average target price of $110.09.

Insiders Place Their Bets

In other news, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president now owns 13,571 shares in the company, valued at $1,368,499.64. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares of the company's stock, valued at approximately $10,486,173.60. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock worth $6,442,018 in the last three months. 0.36% of the stock is owned by company insiders.

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.