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Veralto Co. reported higher-than-expected earnings and revenue, despite a hedge fund reducing its stake.
Hedge fund Chesley Taft & Associates LLC reduced its holdings in Veralto Co. (NYSE:VLTO) by selling 202 shares in the fourth quarter, bringing its total to 3,585 shares.
Veralto reported a 4.7% rise in revenue to $1.31 billion and earnings per share of $0.89, exceeding analyst estimates.
The company will pay a quarterly dividend of $0.11 per share on January 31st.
Various analysts have given mixed ratings and price targets for Veralto, with an average rating of "Hold" and a target price of $113.27.
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Veralto Co. reportó ganancias e ingresos superiores a lo esperado, a pesar de que un fondo de cobertura redujo su participación.