Man Group plc Reduces Stock Position in Veralto Co. (NYSE:VLTO)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Savant Capital LLC lifted its stake in Veralto by 0.5% during the fourth quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock worth $2,055,000 after purchasing an additional 98 shares during the last quarter. Allworth Financial LP raised its holdings in Veralto by 19.4% during the fourth quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after purchasing an additional 101 shares in the last quarter. Quent Capital LLC lifted its position in shares of Veralto by 17.3% during the 4th quarter. Quent Capital LLC now owns 699 shares of the company’s stock worth $71,000 after buying an additional 103 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after buying an additional 109 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of Veralto by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company’s stock valued at $652,000 after buying an additional 110 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Price Performance

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

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating 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 firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto’s payout ratio is currently 12.57%.

Analyst Ratings Changes

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

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 31,689 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the transaction, the senior vice president now directly owns 17,434 shares of the company’s stock, valued at $1,633,042.78. This trade represents a 64.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president now directly owns 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,073 shares of company stock valued at $6,442,018 in the last ninety days. 0.36% of the stock is currently owned by company insiders.

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.