Clearbridge Investments LLC Sells 115,205 Shares of Veralto Co. (NYSE:VLTO)

Clearbridge Investments LLC decreased its position in Veralto Co. (NYSE:VLTO - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,352,960 shares of the company's stock after selling 115,205 shares during the quarter. Clearbridge Investments LLC owned 0.55% of Veralto worth $137,799,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. PEAK6 Investments LLC boosted its stake in Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company's stock worth $977,000 after purchasing an additional 6,211 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock valued at $400,928,000 after buying an additional 1,009,170 shares during the last quarter. Park Avenue Securities LLC lifted its position in Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock worth $1,755,000 after buying an additional 2,676 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Veralto by 10.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company's stock worth $18,259,000 after acquiring an additional 15,048 shares during the last quarter. Finally, Czech National Bank increased its position in Veralto by 6.5% in the 4th quarter. Czech National Bank now owns 53,622 shares of the company's stock valued at $5,461,000 after acquiring an additional 3,284 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

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Wall Street Analyst Weigh In

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

Veralto Trading Up 1.1 %

Veralto stock traded up $1.10 during mid-day trading on Wednesday, hitting $98.72. 790,839 shares of the company's stock were exchanged, compared to its average volume of 1,501,229. Veralto Co. has a fifty-two week low of $85.91 and a fifty-two week high of $115.00. The company's 50 day simple moving average is $99.26 and its 200-day simple moving average is $103.77. The firm has a market capitalization of $24.44 billion, a P/E ratio of 29.56, a PEG ratio of 4.24 and a beta of 1.11. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

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

Veralto Dividend Announcement

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 $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's dividend payout ratio is presently 13.17%.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now directly owns 116,637 shares of the company's stock, valued at $11,495,742.72. The trade was a 8.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Melissa Aquino sold 463 shares of the firm'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 of the company's stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,881 shares of company stock worth $2,176,770. Corporate 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.