First Manhattan CO. LLC. Sells 7,525 Shares of Veralto Co. (NYSE:VLTO)

First Manhattan CO. LLC. cut its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 533,703 shares of the company's stock after selling 7,525 shares during the period. First Manhattan CO. LLC. owned 0.22% of Veralto worth $58,101,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Barclays PLC increased its stake in Veralto by 43.8% during the third quarter. Barclays PLC now owns 729,081 shares of the company's stock valued at $81,556,000 after acquiring an additional 222,076 shares during the period. World Investment Advisors LLC bought a new position in Veralto during the third quarter valued at about $202,000. Principal Financial Group Inc. increased its stake in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company's stock valued at $125,608,000 after acquiring an additional 757,389 shares during the period. JPMorgan Chase & Co. increased its stake in Veralto by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company's stock valued at $273,906,000 after acquiring an additional 314,412 shares during the period. Finally, Diversified Trust Co bought a new position in Veralto during the fourth quarter valued at about $1,528,000. 91.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup decreased their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Northcoast Research assumed coverage on Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Robert W. Baird lifted their price objective on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. 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 report 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 report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $110.09.

Insiders Place Their Bets

In other Veralto news, 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 transaction of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares of the company's stock, valued at approximately $849,964.50. This represents a 6.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the company's stock in a transaction 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 represents a 2.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,578 shares of company stock valued at $6,192,048. 0.36% of the stock is currently owned by corporate insiders.

Veralto Price Performance

Shares of VLTO traded down $0.21 on Friday, hitting $97.07. The company's stock had a trading volume of 1,428,033 shares, compared to its average volume of 1,485,609. The company has a market capitalization of $24.06 billion, a PE ratio of 29.06, a PEG ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company has a 50 day moving average price of $94.22 and a 200 day moving average price of $99.74.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $1.33 billion for 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 was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, March 31st. Veralto's dividend payout ratio is 12.57%.

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.