Nkcfo LLC Purchases New Shares in Veralto Co. (NYSE:VLTO)

Nkcfo LLC acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,000 shares of the company’s stock, valued at approximately $668,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP acquired a new position in Veralto in the 4th quarter valued at $79,075,000. Avantax Advisory Services Inc. purchased a new position in Veralto in the 4th quarter worth approximately $385,000. Janney Montgomery Scott LLC purchased a new position in Veralto in the 4th quarter worth approximately $2,573,000. Beacon Pointe Advisors LLC acquired a new position in shares of Veralto during the 4th quarter worth approximately $514,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Veralto in the fourth quarter valued at approximately $342,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction dated 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 approximately $15,514,381.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mattias Bystrom sold 3,000 shares of the 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 sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Performance

NYSE VLTO opened at $109.47 on Friday. Veralto Co. has a one year low of $65.51 and a one year high of $112.77. The firm has a 50 day simple moving average of $106.91 and a 200-day simple moving average of $98.74. The firm has a market cap of $27.05 billion and a price-to-earnings ratio of 33.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate 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 revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. Equities research analysts anticipate that Veralto Co. will post 3.45 EPS for the current fiscal year.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent research reports. The Goldman Sachs Group boosted 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. Robert W. Baird upped their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their target price on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group assumed coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Finally, TD Cowen lifted their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. 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.com, Veralto currently has an average rating of “Moderate Buy” and an average price target of $104.46.

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.