Renaissance Technologies LLC Sells 424,100 Shares of Veralto Co. (NYSE:VLTO)

Renaissance Technologies LLC lessened its position in Veralto Co. (NYSE:VLTO) by 24.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,293,000 shares of the company’s stock after selling 424,100 shares during the period. Renaissance Technologies LLC owned approximately 0.52% of Veralto worth $131,692,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Veralto in the 4th quarter valued at approximately $26,000. BankPlus Trust Department bought a new position in Veralto in the fourth quarter valued at approximately $29,000. Albion Financial Group UT boosted 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 period. Geneos Wealth Management Inc. bought a new stake in shares of Veralto during the fourth quarter worth $42,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Veralto by 35.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock worth $43,000 after acquiring an additional 109 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of VLTO opened at $85.49 on Wednesday. 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 company’s fifty day simple moving average is $97.71 and its 200 day simple moving average is $103.00. Veralto Co. has a 1-year low of $84.00 and a 1-year high of $115.00. The company has a market cap of $21.21 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 4.24 and a beta of 0.97.

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

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.51%. Veralto’s dividend payout ratio is currently 13.17%.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 590 shares of the company’s 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 approximately $849,964.50. This represents a 6.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,471 shares of company stock valued at $2,234,030. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Royal Bank of Canada decreased their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Citigroup cut their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Stifel Nicolaus decreased their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Veralto currently has an average rating of “Hold” and a consensus target price of $113.50.

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.