Gotham Asset Management LLC Raises Holdings in Veralto Co. (NYSE:VLTO)

Gotham Asset Management LLC lifted its stake in Veralto Co. (NYSE:VLTO - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,993 shares of the company's stock after purchasing an additional 27,531 shares during the quarter. Gotham Asset Management LLC owned about 0.06% of Veralto worth $15,073,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VLTO shares. Northcoast Research started coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Citigroup dropped their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada lifted their price objective on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Robert W. Baird lifted their price objective on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price objective on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $110.09.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares of the company's stock, valued at $849,964.50. This represents a 6.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 2,500 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $99.96, for a total value of $249,900.00. Following the sale, the senior vice president now directly owns 32,430 shares of the company's stock, valued at approximately $3,241,702.80. This represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,615 shares of company stock valued at $6,395,833. Insiders own 0.36% of the company's stock.

Veralto Stock Down 0.4%

NYSE VLTO traded down $0.45 during trading on Wednesday, reaching $99.80. 1,482,172 shares of the company's stock were exchanged, compared to its average volume of 1,486,400. The stock has a market cap of $24.74 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The company has a 50 day moving average price of $94.30 and a two-hundred day moving average price of $99.72. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced 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 for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. On average, equities research analysts anticipate that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, March 31st. Veralto's payout ratio is currently 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.