Seven Eight Capital LP Acquires 4,077 Shares of Veralto Co. (NYSE:VLTO)

Seven Eight Capital LP boosted its holdings in Veralto Co. (NYSE:VLTO) by 35.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,479 shares of the company’s stock after purchasing an additional 4,077 shares during the quarter. Seven Eight Capital LP’s holdings in Veralto were worth $1,478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Delta Asset Management LLC TN grew its stake in shares of Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Veralto in the fourth quarter worth $27,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of Veralto in the fourth quarter worth $30,000. LRI Investments LLC bought a new position in shares of Veralto during the first quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Veralto in the 4th quarter worth about $32,000. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on VLTO shares. The Goldman Sachs Group raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. TD Cowen boosted their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Finally, Robert W. Baird upped their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.46.

Veralto Stock Up 1.3 %

Veralto stock opened at $109.49 on Friday. The stock has a market cap of $27.06 billion and a PE ratio of 33.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The stock has a fifty day moving average of $106.70 and a 200 day moving average of $98.58. Veralto Co. has a one year low of $65.51 and a one year high of $112.77.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion for 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. As a group, sell-side analysts predict that Veralto Co. will post 3.45 EPS for the current year.

Insider Transactions at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value 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 approximately $3,287,355.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Mattias Bystrom sold 3,000 shares of Veralto 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 transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The disclosure for this sale can be found here. Insiders have sold 25,096 shares of company stock worth $2,772,707 in the last 90 days. 0.31% of the stock is currently owned by 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.