Voloridge Investment Management LLC Trims Holdings in Veralto Co. (NYSE:VLTO)

Voloridge Investment Management LLC trimmed its position in Veralto Co. (NYSE:VLTO - Free Report) by 45.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,427 shares of the company's stock after selling 303,100 shares during the quarter. Voloridge Investment Management LLC owned about 0.15% of Veralto worth $37,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in Veralto by 15.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company's stock worth $1,438,000 after purchasing an additional 1,889 shares during the period. David Wealth Management LLC bought a new position in Veralto in the 4th quarter worth approximately $1,013,000. Elo Mutual Pension Insurance Co boosted its stake in Veralto by 15.5% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company's stock worth $2,570,000 after purchasing an additional 3,392 shares during the period. Figure 8 Investment Strategies LLC bought a new position in shares of Veralto during the 4th quarter valued at approximately $1,446,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Veralto by 4.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company's stock valued at $302,000 after acquiring an additional 117 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 0.7%

VLTO traded up $0.69 during trading on Tuesday, reaching $101.15. The company had a trading volume of 243,852 shares, compared to its average volume of 1,461,913. The stock has a market cap of $25.07 billion, a P/E ratio of 30.29, a PEG ratio of 4.24 and a beta of 0.99. The business has a 50 day simple moving average of $94.82 and a 200-day simple moving average of $99.55. Veralto Co. has a 52 week low of $83.86 and a 52 week high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

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. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Veralto's revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. On average, equities analysts anticipate 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 will be paid on Thursday, July 31st. Shareholders 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 0.44%. Veralto's payout ratio is 12.57%.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total value of $57,259.50. Following the sale, the senior vice president now owns 10,011 shares in the company, valued at $971,567.55. This trade represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president now owns 13,571 shares in the company, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,069 shares of company stock worth $5,337,767 over the last quarter. Company insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada increased their target price on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their target price on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Northcoast Research assumed coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Robert W. Baird increased their target price on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Citigroup lowered their target price on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $110.09.

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.