Meiji Yasuda Asset Management Co Ltd. Boosts Position in Veralto Co. (NYSE:VLTO)

Meiji Yasuda Asset Management Co Ltd. raised its stake in Veralto Co. (NYSE:VLTO) by 15.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,802 shares of the company’s stock after purchasing an additional 496 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Veralto were worth $363,000 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. Johnson Financial Group Inc. purchased a new position in shares of Veralto in the 4th quarter valued at $27,000. LRI Investments LLC purchased a new position in shares of Veralto during the first quarter worth about $30,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Veralto during the fourth quarter worth about $32,000. Hazlett Burt & Watson Inc. increased its position in shares of Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Veralto in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 25,096 shares of company stock worth $2,772,707. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Veralto Price Performance

VLTO stock opened at $109.47 on Friday. The company has a market cap of $27.05 billion and a P/E ratio of 33.22. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $106.91 and its 200 day moving average price is $98.81. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $112.77.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business posted $0.80 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research 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.