Veralto Co. (NYSE:VLTO) Stake Boosted by Prudential PLC

Prudential PLC raised its position in shares of Veralto Co. (NYSE:VLTO) by 20.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,845 shares of the company’s stock after buying an additional 13,368 shares during the quarter. Prudential PLC’s holdings in Veralto were worth $7,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VLTO. LRI Investments LLC acquired a new stake in shares of Veralto during the 1st quarter valued at $30,000. Delta Asset Management LLC TN raised its holdings in shares of Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Veralto during the 4th quarter valued at $27,000. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Veralto in the 4th quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Veralto during the 4th quarter worth about $32,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Performance

VLTO stock opened at $109.49 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $112.77. The business’s fifty day moving average is $104.51 and its 200-day moving average is $97.49. The company has a market cap of $27.06 billion and a P/E ratio of 32.85.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 earnings per share. Equities research analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen lifted their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price target on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group raised their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The disclosure for this sale can be found here. Insiders sold 25,096 shares of company stock worth $2,772,707 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

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.