Silvercrest Asset Management Group LLC Sells 9,458 Shares of Veralto Co. (NYSE:VLTO)

Silvercrest Asset Management Group LLC reduced its holdings in shares of Veralto Co. (NYSE:VLTO) by 18.2% in the 1st quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Veralto by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares in the last quarter. Capital International Investors grew its stake in shares of Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of Veralto during the 4th quarter worth approximately $528,018,000. Impax Asset Management Group plc bought a new position in shares of Veralto during the 4th quarter worth approximately $347,827,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Veralto by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock valued at $352,700,000 after buying an additional 617,441 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on VLTO. Robert W. Baird raised their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus raised their target price on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen raised their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday. The Goldman Sachs Group raised their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.33.

Insider Transactions at Veralto

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

Veralto Stock Performance

Veralto stock traded up $0.90 during mid-day trading on Tuesday, hitting $106.00. 673,377 shares of the company’s stock traded hands, compared to its average volume of 1,580,036. The firm has a 50 day simple moving average of $99.12 and a two-hundred day simple moving average of $91.40. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $107.86. The stock has a market cap of $26.17 billion and a price-to-earnings ratio of 31.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

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

Veralto Announces Dividend

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

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.