T. Rowe Price Investment Management Inc. Sells 895,342 Shares of Veralto Co. (NYSE:VLTO)

T. Rowe Price Investment Management Inc. decreased its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,729,595 shares of the company's stock after selling 895,342 shares during the quarter. T. Rowe Price Investment Management Inc. owned 3.93% of Veralto worth $990,960,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new stake in Veralto in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Veralto during the 4th quarter worth approximately $26,000. BankPlus Trust Department bought a new position in shares of Veralto during the 4th quarter worth about $29,000. Albion Financial Group UT lifted its position in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Veralto during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Price Performance

Shares of Veralto stock traded down $0.88 during trading on Monday, reaching $91.44. 299,568 shares of the company's stock were exchanged, compared to its average volume of 1,499,426. 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 market cap of $22.68 billion, a P/E ratio of 27.38, a PEG ratio of 4.24 and a beta of 0.97. Veralto Co. has a 1-year low of $83.86 and a 1-year high of $115.00. The firm's 50-day moving average price is $95.01 and its 200 day moving average price is $100.91.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.48%. Veralto's dividend payout ratio (DPR) is 13.17%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total value of $57,259.50. Following the completion of the sale, the senior vice president now directly owns 10,011 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the company'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 value of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,471 shares of company stock worth $2,234,030. 0.36% of the stock is currently owned by insiders.

Veralto Company 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.