Victory Capital Management Inc. Purchases 7,762 Shares of Veralto Co. (NYSE:VLTO)

Victory Capital Management Inc. increased its position in Veralto Co. (NYSE:VLTO) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,854 shares of the company’s stock after purchasing an additional 7,762 shares during the period. Victory Capital Management Inc.’s holdings in Veralto were worth $9,151,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Veralto by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after acquiring an additional 100 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Veralto by 2.7% during the second quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock valued at $516,000 after purchasing an additional 142 shares in the last quarter. Perkins Coie Trust Co increased its stake in shares of Veralto by 2.2% during the second quarter. Perkins Coie Trust Co now owns 7,128 shares of the company’s stock valued at $680,000 after purchasing an additional 151 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Veralto by 3.8% during the second quarter. Graypoint LLC now owns 4,407 shares of the company’s stock valued at $421,000 after purchasing an additional 160 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of Veralto by 5.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,533 shares of the company’s stock worth $337,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of Veralto stock opened at $110.02 on Friday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The stock’s fifty day moving average price is $105.66 and its 200-day moving average price is $98.05. The firm has a market cap of $27.19 billion and a P/E ratio of 33.02. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the transaction, 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. In the last three months, insiders have sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VLTO shares. Stifel Nicolaus lifted their price objective on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, July 29th. TD Cowen lifted their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Robert W. Baird increased their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. The Goldman Sachs Group boosted their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.46.

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.