Veralto Co. (NYSE:VLTO) Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. lowered its position in shares of Veralto Co. (NYSE:VLTO) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,787 shares of the company’s stock after selling 1,233 shares during the period. Front Street Capital Management Inc.’s holdings in Veralto were worth $4,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares during the last quarter. Capital International Investors lifted its holdings in Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after purchasing an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after acquiring an additional 200,657 shares during the last quarter. Swedbank AB increased its stake in shares of Veralto by 4.9% during the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after acquiring an additional 132,105 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Veralto by 33,575.5% during the 4th quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock valued at $207,318,000 after acquiring an additional 2,512,791 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen increased their price objective 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. Robert W. Baird raised 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. UBS Group initiated coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Veralto Stock Up 0.7 %

Veralto stock opened at $110.25 on Tuesday. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $112.77. The firm has a market capitalization of $27.21 billion and a price-to-earnings ratio of 32.66. The firm’s fifty day moving average price is $107.16 and its two-hundred day moving average price is $99.02. 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’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 transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now 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 this hyperlink. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $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 Veralto stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The disclosure for this sale can be found here. Insiders sold 25,096 shares of company stock worth $2,772,707 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Veralto Company 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.