Skandinaviska Enskilda Banken AB publ Has $4.66 Million Stake in Veralto Co. (NYSE:VLTO)

Skandinaviska Enskilda Banken AB publ grew its position in Veralto Co. (NYSE:VLTO) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,799 shares of the company’s stock after purchasing an additional 1,763 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Veralto were worth $4,659,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. AE Wealth Management LLC acquired a new stake in Veralto in the 2nd quarter valued at $202,000. Canada Pension Plan Investment Board increased its position in shares of Veralto by 32.9% in the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock valued at $23,256,000 after acquiring an additional 60,300 shares during the last quarter. Intech Investment Management LLC acquired a new position in Veralto during the second quarter valued at approximately $20,913,000. Carolinas Wealth Consulting LLC boosted its position in Veralto by 8,350.0% during the second quarter. Carolinas Wealth Consulting LLC now owns 1,014 shares of the company’s stock valued at $97,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Seven Eight Capital LP increased its position in shares of Veralto by 35.8% during the 2nd quarter. Seven Eight Capital LP now owns 15,479 shares of the company’s stock worth $1,478,000 after purchasing an additional 4,077 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen upped 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. Robert W. Baird boosted 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. UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Stifel Nicolaus lifted their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.46.

Veralto Stock Performance

Shares of VLTO stock opened at $109.47 on Monday. 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 company has a market capitalization of $27.02 billion and a price-to-earnings ratio of 32.66. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $112.77. The company has a 50-day simple moving average of $106.91 and a two-hundred day simple moving average of $98.88.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion for 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 business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. Research analysts anticipate that Veralto Co. will post 3.45 EPS for the current fiscal year.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto 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 directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 31,045 shares in the company, valued at $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 over the last three months. 0.31% of the stock is currently owned by insiders.

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.