Fairscale Capital LLC Acquires New Position in Veralto Co. (NYSE:VLTO)

Fairscale Capital LLC bought a new position in shares of Veralto Co. (NYSE:VLTO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 304 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Oregon Public Employees Retirement Fund raised its stake in shares of Veralto by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after acquiring an additional 100 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Veralto by 2.7% in the 2nd 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 raised its position in Veralto by 2.2% in the 2nd 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 boosted its stake in shares of Veralto by 3.8% in the 2nd quarter. Graypoint LLC now owns 4,407 shares of the company’s stock valued at $421,000 after buying an additional 160 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in shares of Veralto by 5.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,533 shares of the company’s stock worth $337,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

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

Veralto Price Performance

Veralto stock opened at $109.47 on Monday. The company has a market capitalization of $27.02 billion and a P/E ratio of 32.66. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $112.77. The stock has a 50-day simple moving average of $106.91 and a 200-day simple moving average of $98.88.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. Equities research analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VLTO shares. Robert W. Baird raised their target price 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 raised their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen boosted their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Veralto Company 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.