Veralto Co. (NYSE:VLTO) Shares Sold by Axa S.A.

Axa S.A. lessened its position in shares of Veralto Co. (NYSE:VLTO) by 2.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,525 shares of the company’s stock after selling 261 shares during the quarter. Axa S.A.’s holdings in Veralto were worth $909,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its position in shares of Veralto by 131.6% during the second quarter. Fred Alger Management LLC now owns 30,822 shares of the company’s stock worth $2,943,000 after acquiring an additional 17,512 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Veralto during the 2nd quarter worth $24,618,000. Insigneo Advisory Services LLC grew its position in Veralto by 12.4% during the 2nd quarter. Insigneo Advisory Services LLC now owns 5,664 shares of the company’s stock worth $578,000 after purchasing an additional 624 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Veralto by 69.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 47,220 shares of the company’s stock valued at $4,508,000 after purchasing an additional 19,283 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Veralto by 37.3% in the second quarter. Xponance Inc. now owns 43,122 shares of the company’s stock valued at $4,117,000 after buying an additional 11,726 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $110.03 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $112.77. The firm’s fifty day simple moving average is $108.59 and its 200-day simple moving average is $99.98. The stock has a market cap of $27.16 billion and a PE ratio of 33.62.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) 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 net margin of 15.60% and a return on equity of 58.82%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on VLTO shares. Stifel Nicolaus raised 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. Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen upped 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. Royal Bank of Canada lifted their price objective on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.85.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the transaction, the senior vice president now owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s 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 sale, 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. Over the last 90 days, insiders have sold 25,096 shares of company stock valued at $2,772,707. Insiders own 0.31% of the company’s stock.

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.