Brown Advisory Inc. Sells 188,324 Shares of Veralto Co. (NYSE:VLTO)

Brown Advisory Inc. lowered its position in shares of Veralto Co. (NYSE:VLTO) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,794,554 shares of the company’s stock after selling 188,324 shares during the quarter. Veralto makes up about 0.9% of Brown Advisory Inc.’s investment portfolio, making the stock its 27th largest position. Brown Advisory Inc.’s holdings in Veralto were worth $692,025,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto during the fourth quarter worth $25,000. OFI Invest Asset Management bought a new stake in shares of Veralto in the 4th quarter valued at about $26,000. BankPlus Trust Department bought a new stake in shares of Veralto in the 4th quarter valued at about $29,000. Albion Financial Group UT raised its position in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in Veralto during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,889 shares of company stock worth $3,223,740 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the subject of several recent analyst reports. Stifel Nicolaus increased their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird upped their price objective on shares of Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup reduced their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada increased their price target on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday. Six 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 has a consensus rating of “Hold” and an average price target of $110.10.

Veralto Price Performance

NYSE VLTO opened at $95.58 on Friday. Veralto Co. has a 12-month low of $83.87 and a 12-month high of $115.00. The firm’s 50 day moving average is $94.54 and its 200-day moving average is $100.35. The company has a market capitalization of $23.69 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

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

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, March 31st. Veralto’s dividend payout ratio (DPR) is 12.57%.

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.