Townsquare Capital LLC Trims Holdings in Veralto Co. (NYSE:VLTO)

Townsquare Capital LLC reduced its stake in Veralto Co. (NYSE:VLTO) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,616 shares of the company’s stock after selling 138 shares during the quarter. Townsquare Capital LLC’s holdings in Veralto were worth $470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in Veralto in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Veralto in the 4th quarter valued at $26,000. BankPlus Trust Department acquired a new position in shares of Veralto in the 4th quarter valued at $29,000. Albion Financial Group UT increased its position in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Veralto in the 4th quarter valued at about $42,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total transaction of $57,259.50. Following the completion of the transaction, the senior vice president now owns 10,011 shares in the company, valued at $971,567.55. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the sale, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,471 shares of company stock worth $2,234,030. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several research analyst reports. Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lowered their price objective on shares of Veralto from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Citigroup cut their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.10.

Veralto Price Performance

Veralto stock opened at $89.59 on Monday. The company’s 50 day moving average is $95.86 and its two-hundred day moving average is $101.68. The firm has a market cap of $22.22 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. 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 Co. has a 52-week low of $83.87 and a 52-week high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, research analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio is presently 13.17%.

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.