Millennium Management LLC Sells 542,757 Shares of Veralto Co. (NYSE:VLTO)

Millennium Management LLC trimmed its position in Veralto Co. (NYSE:VLTO - Free Report) by 45.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 647,266 shares of the company's stock after selling 542,757 shares during the quarter. Millennium Management LLC owned about 0.26% of Veralto worth $65,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Savant Capital LLC raised its position in shares of Veralto by 0.5% during the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company's stock valued at $2,055,000 after purchasing an additional 98 shares during the period. Allworth Financial LP increased its stake in Veralto by 19.4% in the 4th quarter. Allworth Financial LP now owns 622 shares of the company's stock worth $64,000 after buying an additional 101 shares in the last quarter. Quent Capital LLC raised its holdings in Veralto by 17.3% during the fourth quarter. Quent Capital LLC now owns 699 shares of the company's stock valued at $71,000 after acquiring an additional 103 shares during the period. Raleigh Capital Management Inc. lifted its position in shares of Veralto by 35.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock valued at $43,000 after acquiring an additional 109 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Veralto by 1.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock worth $652,000 after acquiring an additional 110 shares during the period. Institutional investors own 91.28% of the company's stock.

Veralto Trading Down 0.8%

NYSE VLTO traded down $0.79 on Wednesday, hitting $101.24. 201,181 shares of the stock were exchanged, compared to its average volume of 1,474,302. 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 Co. has a 52-week low of $83.87 and a 52-week high of $115.00. The firm has a market capitalization of $25.09 billion, a P/E ratio of 30.27, a P/E/G ratio of 4.24 and a beta of 0.99. The stock has a fifty day moving average price of $94.66 and a two-hundred day moving average price of $99.66.

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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. Research analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

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

Insider Activity at Veralto

In other Veralto news, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 13,571 shares in the company, valued at $1,368,499.64. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares of the company's stock, valued at $849,964.50. This represents a 6.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,073 shares of company stock worth $6,442,018 in the last quarter. 0.36% of the stock is owned by company insiders.

Analyst Ratings Changes

VLTO has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Robert W. Baird upped their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Royal Bank of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Finally, Citigroup dropped their price objective 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Veralto presently has an average rating of "Hold" and an average price target 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.