Home Hedge Funds Here’s Why Madison Sustainable Equity Fund Sold Veralto Corporation (VLTO)

Here’s Why Madison Sustainable Equity Fund Sold Veralto Corporation (VLTO)


Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the fourth quarter, equity markets ended the year on a high note, with the S&P 500 achieving an 11.7% increase. This brought the full-year return to 26.3%. The Fund (Class Y) returned 18.0% for the year, but had a Q4 return of 11.9%, trailing the S&P 500. The fourth quarter’s strength can be attributed to the yield curve’s downward shift. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Sustainable Equity Fund featured stocks such as Veralto Corporation (NYSE:VLTO) in the fourth quarter 2023 investor letter. Based in Waltham, Massachusetts, Veralto Corporation (NYSE:VLTO) offers technology solutions to protect and enhance resources. On February 1, 2024, Veralto Corporation (NYSE:VLTO) stock closed at $76.79 per share. The one-month return of Veralto Corporation (NYSE:VLTO) was -0.14%, and YTD its shares lost 6.65% of their value. Veralto Corporation (NYSE:VLTO) has a market capitalization of $18.914 billion.

Madison Sustainable Equity Fund stated the following regarding Veralto Corporation (NYSE:VLTO) in its fourth quarter 2023 investor letter:

“And finally, we sold Veralto Corporation (NYSE:VLTO) which is a water purification and quality control systems company that was spun out of Danaher. We sold the company as valuation adequately reflected the company’s growth prospects.”

A technician in a deep-water treatment facility, ensuring clean water for public safety.

Veralto Corporation (NYSE:VLTO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Veralto Corporation (NYSE:VLTO) at the end of third quarter which was 0 in the previous quarter.

We discussed Veralto Corporation (NYSE:VLTO) in another article and shared the list of recent spin-off companies that hedge funds are piling into. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.

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