Veralto Co. (NYSE:VLTO) Stock Position Cut by Brown Advisory Inc.

Brown Advisory Inc. trimmed its position in Veralto Co. (NYSE:VLTO - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,794,554 shares of the company's stock after selling 188,324 shares during the quarter. Veralto accounts for approximately 0.9% of Brown Advisory Inc.'s portfolio, making the stock its 27th largest holding. Brown Advisory Inc. owned about 2.75% of Veralto worth $692,025,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. raised its position in Veralto by 3.5% in the fourth quarter. Baird Financial Group Inc. now owns 12,373 shares of the company's stock valued at $1,260,000 after purchasing an additional 420 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Veralto in the fourth quarter valued at about $1,158,000. BNP Paribas raised its holdings in shares of Veralto by 30,297.5% during the 4th quarter. BNP Paribas now owns 12,159 shares of the company's stock valued at $1,239,000 after buying an additional 12,119 shares during the period. BNP Paribas Financial Markets purchased a new position in Veralto in the 4th quarter worth approximately $96,888,000. Finally, Ameriprise Financial Inc. grew its position in Veralto by 2.1% in the fourth quarter. Ameriprise Financial Inc. now owns 172,976 shares of the company's stock valued at $17,617,000 after acquiring an additional 3,495 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Veralto news, SVP Melissa Aquino sold 463 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the sale, the senior vice president now directly owns 8,470 shares in the company, valued at approximately $849,964.50. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,578 shares of company stock valued at $6,192,048. 0.36% of the stock is currently owned by insiders.

Veralto Stock Performance

Shares of VLTO traded down $0.24 during mid-day trading on Tuesday, hitting $95.45. The stock had a trading volume of 1,157,343 shares, compared to its average volume of 1,486,018. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company has a market cap of $23.66 billion, a PE ratio of 28.58, a PEG ratio of 4.24 and a beta of 0.99. Veralto Co. has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company's fifty day simple moving average is $94.38 and its two-hundred day simple moving average is $100.10.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a $0.11 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.46%. Veralto's payout ratio is currently 12.57%.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent research reports. Robert W. Baird boosted 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. Citigroup cut 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. Royal Bank of Canada raised their target price on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their price target on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Northcoast Research initiated coverage on Veralto in a research note on Tuesday. They set a "buy" rating and a $110.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average 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.