Frank Rimerman Advisors LLC Raises Stock Holdings in Veralto Co. (NYSE:VLTO)

Frank Rimerman Advisors LLC grew its stake in shares of Veralto Co. (NYSE:VLTO) by 515.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,568 shares of the company’s stock after acquiring an additional 3,826 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Veralto were worth $436,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VLTO. Wells Fargo & Company MN bought a new stake in shares of Veralto in the fourth quarter worth $25,633,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Veralto during the 4th quarter valued at about $1,507,000. US Bancorp DE purchased a new stake in shares of Veralto during the 4th quarter valued at about $6,354,000. Orion Portfolio Solutions LLC bought a new position in shares of Veralto in the 4th quarter worth approximately $3,202,000. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Veralto in the fourth quarter worth approximately $6,861,000. 91.28% of the stock is currently owned by institutional investors.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction that occurred 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 directly owns 31,045 shares in the company, valued at $3,287,355.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Mattias Bystrom sold 3,000 shares of the firm’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 completion of the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock valued at $2,772,707. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Robert W. Baird boosted their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Stifel Nicolaus raised 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. Finally, The Goldman Sachs Group upped their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Seven 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 has a consensus rating of “Moderate Buy” and a consensus price target of $104.46.

Veralto Stock Performance

NYSE:VLTO opened at $111.38 on Wednesday. The company has a market cap of $27.52 billion and a price-to-earnings ratio of 33.31. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $112.77. The stock’s 50 day simple moving average is $107.40 and its two-hundred day simple moving average is $99.18. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Veralto’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

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.