Kentucky Retirement Systems Decreases Stake in Veralto Co. (NYSE:VLTO)

Kentucky Retirement Systems lessened its stake in shares of Veralto Co. (NYSE:VLTO) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,555 shares of the company’s stock after selling 99 shares during the period. Kentucky Retirement Systems’ holdings in Veralto were worth $1,581,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in Veralto in the 4th quarter worth $2,127,330,000. Capital International Investors purchased a new position in shares of Veralto in the fourth quarter worth about $538,324,000. Swedbank AB acquired a new stake in shares of Veralto during the first quarter worth about $237,864,000. Northern Trust Corp boosted its position in Veralto by 33,575.5% in the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock valued at $207,318,000 after buying an additional 2,512,791 shares during the last quarter. Finally, Rudius Management LP increased its holdings in Veralto by 28,658.9% in the 4th quarter. Rudius Management LP now owns 1,723,232 shares of the company’s stock worth $141,753,000 after buying an additional 1,717,240 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the sale, the senior vice president now owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction 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 sold 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 corporate insiders.

Wall Street Analyst Weigh In

VLTO has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective 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 upped their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Stifel Nicolaus lifted their price target on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Veralto Price Performance

VLTO opened at $109.47 on Friday. The company has a market cap of $27.05 billion and a PE ratio of 33.22. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $112.77. The company has a 50-day moving average price of $106.91 and a 200 day moving average price of $98.74. 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 (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating 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 the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.80 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal 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.