Canada Pension Plan Investment Board Grows Stock Holdings in Veralto Co. (NYSE:VLTO)

Canada Pension Plan Investment Board boosted its holdings in Veralto Co. (NYSE:VLTO) by 32.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,600 shares of the company’s stock after buying an additional 60,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of Veralto worth $23,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its holdings in Veralto by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after purchasing an additional 100 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Veralto by 2.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock valued at $516,000 after purchasing an additional 142 shares during the period. Perkins Coie Trust Co boosted its holdings in Veralto by 2.2% in the 2nd quarter. Perkins Coie Trust Co now owns 7,128 shares of the company’s stock valued at $680,000 after purchasing an additional 151 shares during the period. Graypoint LLC boosted its holdings in Veralto by 3.8% in the 2nd quarter. Graypoint LLC now owns 4,407 shares of the company’s stock valued at $421,000 after purchasing an additional 160 shares during the period. Finally, Valeo Financial Advisors LLC boosted its holdings in Veralto by 5.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,533 shares of the company’s stock valued at $337,000 after purchasing an additional 168 shares during the period. 91.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group assumed coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Finally, TD Cowen lifted their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.46.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’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 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. Insiders have sold 25,096 shares of company stock worth $2,772,707 over the last 90 days. 0.31% of the stock is owned by company insiders.

Veralto Price Performance

VLTO stock opened at $109.47 on Monday. The firm’s 50-day moving average price is $106.91 and its two-hundred day moving average price is $98.88. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $112.77. The stock has a market capitalization of $27.02 billion and a price-to-earnings ratio of 32.66. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts predict that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Profile

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.