Veralto Co. (NYSE:VLTO) Shares Sold by Man Group plc

Man Group plc lowered its stake in Veralto Co. (NYSE:VLTO) by 81.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 86,652 shares of the company’s stock after selling 377,722 shares during the quarter. Man Group plc’s holdings in Veralto were worth $8,826,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Veralto by 43.8% in the third quarter. Barclays PLC now owns 729,081 shares of the company’s stock valued at $81,556,000 after purchasing an additional 222,076 shares during the period. JPMorgan Chase & Co. increased its stake in Veralto by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock worth $273,906,000 after buying an additional 314,412 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Veralto by 15.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock valued at $1,438,000 after acquiring an additional 1,889 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after acquiring an additional 2,676 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of Veralto in the fourth quarter worth approximately $2,192,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the business’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 $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 $10,486,173.60. The trade was a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president now directly owns 13,571 shares in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,073 shares of company stock valued at $6,442,018 in the last three months. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VLTO shares. Robert W. Baird upped their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price objective on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Royal Bank of Canada boosted their target price on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Citigroup reduced their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Northcoast Research began coverage on Veralto in a report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.09.

Veralto Stock Performance

Shares of VLTO stock opened at $101.67 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm has a market cap of $25.20 billion, a P/E ratio of 30.44, a P/E/G ratio of 4.24 and a beta of 0.99. The firm’s 50 day moving average price is $94.40 and its 200-day moving average price is $99.64. Veralto Co. has a one year low of $83.87 and a one year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto’s dividend payout ratio (DPR) 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.