Liberty Capital Management Inc. Cuts Stock Position in Veralto Co. (NYSE:VLTO)

Liberty Capital Management Inc. reduced its position in Veralto Co. (NYSE:VLTO) by 24.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,625 shares of the company’s stock after selling 829 shares during the quarter. Liberty Capital Management Inc.’s holdings in Veralto were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Portfolio Solutions LLC purchased a new stake in Veralto during the 4th quarter valued at about $3,202,000. Factory Mutual Insurance Co. purchased a new stake in Veralto during the 4th quarter valued at about $9,260,000. State of Michigan Retirement System purchased a new stake in Veralto during the 4th quarter valued at about $4,940,000. Dimensional Fund Advisors LP purchased a new stake in Veralto during the 4th quarter valued at about $79,075,000. Finally, Wells Fargo & Company MN purchased a new stake in Veralto during the 4th quarter valued at about $25,633,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on VLTO shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price target on shares of Veralto in a research report on Friday, June 14th. Citigroup upped their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Robert W. Baird upped their price target on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Stifel Nicolaus upped their price target on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets upped their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.00.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now 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 Trading Down 1.4 %

Shares of VLTO stock traded down $1.41 on Friday, reaching $98.87. The stock had a trading volume of 3,261,181 shares, compared to its average volume of 1,377,709. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $102.58. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The company has a 50 day simple moving average of $97.26 and a 200 day simple moving average of $87.79.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Veralto Co. will post 3.37 earnings per share 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 $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.36%.

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.