Veralto Co. (NYSE:VLTO) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,959 shares of the company's stock after selling 31,399 shares during the quarter. Pinebridge Investments L.P.'s holdings in Veralto were worth $10,894,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VLTO. Bernard Wealth Management Corp. purchased a new position in Veralto in the fourth quarter worth $25,000. OFI Invest Asset Management purchased a new position in Veralto in the fourth quarter worth $26,000. BankPlus Trust Department purchased a new position in Veralto in the fourth quarter worth $29,000. Albion Financial Group UT grew 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. purchased a new position in Veralto in the fourth quarter worth $42,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Performance

Veralto stock traded up $0.50 during midday trading on Tuesday, hitting $92.57. 286,166 shares of the company were exchanged, compared to its average volume of 1,469,285. The firm has a market capitalization of $22.96 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. Veralto Co. has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The business has a fifty day simple moving average of $94.90 and a two-hundred day simple moving average of $100.77. 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 posted its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 31st. Veralto's payout ratio is currently 13.17%.

Insider Buying and Selling at Veralto

In related news, SVP Melissa Aquino sold 463 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $971,567.55. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,471 shares of company stock valued at $2,234,030. Company insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VLTO shares. Royal Bank of Canada dropped their price objective on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Citigroup dropped their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus dropped their price objective on shares of Veralto from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Veralto presently has an average rating of "Hold" and an average price target of $111.10.

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.