Primecap Management Co. CA Sells 17,444 Shares of Veralto Co. (NYSE:VLTO)

Primecap Management Co. CA cut its position in shares of Veralto Co. (NYSE:VLTO) by 64.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,667 shares of the company’s stock after selling 17,444 shares during the quarter. Primecap Management Co. CA’s holdings in Veralto were worth $923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new position in shares of Veralto in the fourth quarter valued at approximately $79,075,000. Avantax Advisory Services Inc. purchased a new stake in shares of Veralto during the 4th quarter valued at $385,000. Janney Montgomery Scott LLC purchased a new position in shares of Veralto in the 4th quarter worth about $2,573,000. Beacon Pointe Advisors LLC bought a new position in Veralto during the fourth quarter valued at about $514,000. Finally, Panagora Asset Management Inc. purchased a new stake in Veralto during the fourth quarter worth about $342,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised 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. UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. Stifel Nicolaus lifted their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Robert W. Baird upped 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.46.

Veralto Trading Down 0.8 %

Shares of Veralto stock opened at $108.11 on Thursday. The company’s 50-day moving average price is $106.45 and its 200-day moving average price is $98.51. The company has a market cap of $26.72 billion and a price-to-earnings ratio of 33.22. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $112.77. 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 announced 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. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. On average, equities analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the 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 approximately $3,287,355.05. The disclosure for this sale can be found here. Insiders have sold a total of 25,096 shares of company stock valued at $2,772,707 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.