California Public Employees Retirement System Sells 25,686 Shares of Veralto Co. (NYSE:VLTO)

California Public Employees Retirement System decreased its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,774 shares of the company's stock after selling 25,686 shares during the quarter. California Public Employees Retirement System owned 0.15% of Veralto worth $38,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Veralto during the 4th quarter valued at $26,000. BankPlus Trust Department purchased a new position in Veralto in the fourth quarter valued at about $29,000. Albion Financial Group UT increased its position in Veralto by 2,100.0% in the 4th 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. Geneos Wealth Management Inc. purchased a new stake in shares of Veralto during the 4th quarter worth about $42,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Veralto in the 3rd quarter valued at approximately $46,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Performance

VLTO traded down $1.68 during midday trading on Monday, reaching $87.14. The company's stock had a trading volume of 2,395,182 shares, compared to its average volume of 1,502,063. Veralto Co. has a twelve month low of $84.00 and a twelve month high of $115.00. The stock has a market cap of $21.62 billion, a P/E ratio of 26.09, a PEG ratio of 4.24 and a beta of 0.97. The company has a fifty day simple moving average of $98.41 and a 200 day simple moving average of $103.29. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

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

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's dividend payout ratio (DPR) is presently 13.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on VLTO shares. Stifel Nicolaus cut their price objective on shares of Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They set a "buy" rating and a $125.00 price target on the stock. Citigroup decreased their price objective on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada cut their target price on Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Veralto currently has an average rating of "Hold" and a consensus target price of $113.50.

Insider Activity at Veralto

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares of the company's stock, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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 position. The disclosure for this sale can be found here. Insiders have sold 22,471 shares of company stock worth $2,234,030 over the last three months. Company insiders own 0.31% of the company's stock.

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.