Bryn Mawr Capital Management LLC Sells 999 Shares of Veralto Co. (NYSE:VLTO)

Bryn Mawr Capital Management LLC cut its stake in shares of Veralto Co. (NYSE:VLTO) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,081 shares of the company’s stock after selling 999 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Veralto were worth $2,555,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in shares of Veralto in the third quarter valued at about $25,000. BankPlus Trust Department bought a new position in shares of Veralto in the fourth quarter valued at about $29,000. Albion Financial Group UT raised its holdings in shares of Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Veralto in the fourth quarter valued at about $42,000. Finally, Erste Asset Management GmbH bought a new position in shares of Veralto in the third quarter valued at about $46,000. 91.28% of the stock is owned by institutional investors.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,467 shares of company stock worth $1,150,366. 0.31% of the stock is currently owned by company insiders.

Veralto Price Performance

Shares of VLTO stock opened at $99.70 on Thursday. The stock has a 50-day moving average price of $101.25 and a 200 day moving average price of $105.80. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The firm has a market cap of $24.66 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 4.24 and a beta of 1.06. Veralto Co. has a 12 month low of $85.70 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.11 per share. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, December 31st. Veralto’s payout ratio is presently 13.17%.

Analyst Ratings Changes

VLTO has been the subject of a number of research analyst reports. Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Stifel Nicolaus cut their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada cut their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, Jefferies Financial Group initiated coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.55.

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.