Newport Trust Company LLC Sells 46,450 Shares of Veralto Co. (NYSE:VLTO)

Newport Trust Company LLC lessened its position in shares of Veralto Co. (NYSE:VLTO) by 7.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 574,063 shares of the company’s stock after selling 46,450 shares during the quarter. Newport Trust Company LLC owned 0.23% of Veralto worth $54,806,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VLTO. LRI Investments LLC purchased a new stake in shares of Veralto during the 1st quarter valued at about $30,000. Delta Asset Management LLC TN raised its position in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after acquiring an additional 216 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Veralto during the 4th quarter worth $27,000. Hazlett Burt & Watson Inc. grew its position in shares of Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares during the period. Finally, Cassady Schiller Wealth Management LLC bought a new position in Veralto in the 4th quarter worth $30,000. Institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the sale, the senior vice president now owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the sale, the senior vice president now owns 11,918 shares in the company, valued at approximately $1,324,089.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the 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 disclosure for this sale can be found here. Insiders have sold a total of 25,096 shares of company stock worth $2,772,707 in the last three months. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

NYSE:VLTO opened at $109.49 on Friday. The company has a market capitalization of $27.06 billion and a P/E ratio of 33.22. The business’s 50-day moving average is $106.70 and its 200 day moving average is $98.58. 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.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. The Goldman Sachs Group lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Robert W. Baird increased their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, TD Cowen increased their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.