Veralto Co. (NYSE:VLTO) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 9.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 137,403 shares of the company's stock after selling 15,049 shares during the quarter. State of Tennessee Department of Treasury owned about 0.06% of Veralto worth $13,994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VLTO. Savant Capital LLC boosted its stake in shares of Veralto by 0.5% during the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company's stock worth $2,055,000 after purchasing an additional 98 shares during the period. Allworth Financial LP boosted its position in shares of Veralto by 19.4% during the fourth quarter. Allworth Financial LP now owns 622 shares of the company's stock valued at $64,000 after buying an additional 101 shares during the period. Quent Capital LLC boosted its position in shares of Veralto by 17.3% during the fourth quarter. Quent Capital LLC now owns 699 shares of the company's stock valued at $71,000 after buying an additional 103 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of Veralto by 35.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock valued at $43,000 after buying an additional 109 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Veralto by 2.9% in the fourth quarter. Ballentine Partners LLC now owns 4,111 shares of the company's stock worth $419,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

Shares of NYSE:VLTO traded up $0.66 on Friday, hitting $92.40. 1,418,303 shares of the company were exchanged, compared to its average volume of 1,473,835. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock's 50 day moving average price is $95.01 and its 200 day moving average price is $101.07. Veralto Co. has a 1-year low of $83.87 and a 1-year high of $115.00. The firm has a market capitalization of $22.92 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS 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%. Sell-side analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid 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 payout ratio is currently 13.17%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stifel Nicolaus cut their price objective on Veralto from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Finally, Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $111.10.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at $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 available at the SEC website. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction on 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 $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,471 shares of company stock valued at $2,234,030 in the last quarter. 0.36% of the stock is currently owned by company 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.