Veralto Co. (NYSE:VLTO) Holdings Lowered by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its holdings in Veralto Co. (NYSE:VLTO) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,601 shares of the company’s stock after selling 9,458 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Veralto were worth $3,777,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Magnetar Financial LLC acquired a new position in shares of Veralto in the 1st quarter worth approximately $2,085,000. PEAK6 Investments LLC grew its stake in shares of Veralto by 20.7% in the 1st quarter. PEAK6 Investments LLC now owns 2,655 shares of the company’s stock worth $235,000 after purchasing an additional 456 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Veralto in the 1st quarter worth approximately $30,000. Capital International Sarl grew its stake in shares of Veralto by 10.9% in the 1st quarter. Capital International Sarl now owns 46,336 shares of the company’s stock worth $4,108,000 after purchasing an additional 4,544 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Veralto by 1.6% in the 1st quarter. Toronto Dominion Bank now owns 128,482 shares of the company’s stock worth $11,391,000 after purchasing an additional 2,030 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VLTO shares. Robert W. Baird lifted their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday. Citigroup lifted their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen lifted their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, BMO Capital Markets lifted their target price on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.33.

Veralto Stock Up 0.9 %

NYSE VLTO traded up $0.90 during trading on Tuesday, hitting $106.00. 673,377 shares of the company traded hands, compared to its average volume of 1,580,036. The company has a market capitalization of $26.17 billion and a P/E ratio of 31.68. The business has a fifty day simple moving average of $99.12 and a 200 day simple moving average of $91.40. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $107.86. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Veralto Co. will post 3.43 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, June 28th.

Insider Activity

In related news, insider Jennifer Honeycutt 13,191 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Honeycutt 13,191 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders own 0.31% of the company’s stock.

About Veralto

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.