Parallel Advisors LLC Sells 117 Shares of Veralto Co. (NYSE:VLTO)

Parallel Advisors LLC cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,437 shares of the company’s stock after selling 117 shares during the quarter. Parallel Advisors LLC’s holdings in Veralto were worth $328,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VLTO. Dimensional Fund Advisors LP purchased a new position in Veralto in the 4th quarter worth approximately $79,075,000. Avantax Advisory Services Inc. purchased a new position in shares of Veralto in the fourth quarter worth $385,000. Janney Montgomery Scott LLC bought a new position in shares of Veralto during the fourth quarter worth $2,573,000. Beacon Pointe Advisors LLC purchased a new position in Veralto during the fourth quarter valued at $514,000. Finally, Panagora Asset Management Inc. bought a new stake in Veralto in the 4th quarter valued at $342,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

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 shares were 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 owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock valued at $2,772,707. Company insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $108.11 on Thursday. 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 Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The company has a market capitalization of $26.72 billion and a price-to-earnings ratio of 33.22. The firm’s 50-day moving average is $106.45 and its 200 day moving average is $98.51.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Veralto’s revenue was up 2.8% compared to the same quarter last year. Research analysts predict that Veralto Co. will post 3.45 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price objective on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Veralto presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.46.

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.