Magnetar Financial LLC Has $842,000 Stock Position in Veralto Co. (NYSE:VLTO)

Magnetar Financial LLC reduced its position in Veralto Co. (NYSE:VLTO) by 62.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,824 shares of the company’s stock after selling 14,689 shares during the period. Magnetar Financial LLC’s holdings in Veralto were worth $842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VLTO. Johnson Financial Group Inc. acquired a new stake in shares of Veralto in the 4th quarter valued at $27,000. LRI Investments LLC acquired a new stake in shares of Veralto in the 1st quarter valued at $30,000. Fairscale Capital LLC acquired a new stake in shares of Veralto in the 2nd quarter valued at $30,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Veralto in the 4th quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. TD Cowen lifted their price objective on 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 lifted their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average price target of $104.46.

Veralto Stock Performance

VLTO opened at $111.38 on Wednesday. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $112.77. The firm has a market capitalization of $27.52 billion and a PE ratio of 33.31. 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 business’s 50-day simple moving average is $107.40 and its 200 day simple moving average is $99.18.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. Veralto’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on 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 owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Mattias Bystrom sold 3,000 shares of the business’s 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 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 over 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.