Private Advisor Group LLC Increases Stake in Veralto Co. (NYSE:VLTO)

Private Advisor Group LLC boosted its holdings in shares of Veralto Co. (NYSE:VLTO) by 7.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,141 shares of the company’s stock after buying an additional 988 shares during the quarter. Private Advisor Group LLC’s holdings in Veralto were worth $1,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN boosted its holdings in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Veralto during the fourth quarter worth about $27,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of Veralto during the fourth quarter worth approximately $30,000. LRI Investments LLC acquired a new stake in Veralto in the first quarter valued at approximately $30,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Veralto in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’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 transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’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 of the company’s stock, valued at $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. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VLTO shares. 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 lifted their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada raised their target price on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Seven equities research 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 a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Stock Up 0.7 %

VLTO stock opened at $110.02 on Friday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The company has a market cap of $27.19 billion and a price-to-earnings ratio of 33.02. The company has a fifty day moving average price of $105.66 and a 200 day moving average price of $98.05.

Veralto (NYSE:VLTO) last announced its earnings results 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 business had revenue of $1.29 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Sell-side analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

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.