Adage Capital Partners GP L.L.C. Has $19.56 Million Stake in Veralto Corporation $VLTO

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Veralto Corporation by 545.9% in Q1, owning approximately $19.56 million in shares by the end of the reporting period.
• Veralto reported a 6.4% year-over-year revenue growth and earnings per share of $0.93, beating analysts' expectations of $0.89 for the most recent quarter.
• Analysts have set a consensus price target of $113.43 for Veralto, with several firms issuing buy ratings, indicating a generally positive outlook on the stock.

Adage Capital Partners GP L.L.C. boosted its position in Veralto Corporation (NYSE:VLTO - Free Report) by 545.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,667 shares of the company's stock after purchasing an additional 169,600 shares during the period. Adage Capital Partners GP L.L.C. owned 0.08% of Veralto worth $19,555,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VLTO. Nuveen LLC bought a new stake in shares of Veralto during the first quarter worth about $172,399,000. T. Rowe Price Investment Management Inc. boosted its position in Veralto by 8.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company's stock worth $1,027,264,000 after buying an additional 811,843 shares during the period. JPMorgan Chase & Co. grew its holdings in Veralto by 26.8% during the 1st quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company's stock worth $314,137,000 after acquiring an additional 682,123 shares during the last quarter. Bank of New York Mellon Corp increased its position in Veralto by 13.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock valued at $415,074,000 after acquiring an additional 509,104 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Veralto by 9,610.3% during the first quarter. GAMMA Investing LLC now owns 409,387 shares of the company's stock valued at $39,895,000 after acquiring an additional 405,171 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Trading Up 3.0%

VLTO stock traded up $3.22 during mid-day trading on Thursday, reaching $109.23. The company's stock had a trading volume of 1,188,858 shares, compared to its average volume of 865,790. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $115.00. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. The business's 50 day moving average price is $105.41 and its 200 day moving average price is $99.89. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. On average, equities research analysts predict that Veralto Corporation will post 3.66 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Robert W. Baird lifted their target price on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Royal Bank Of Canada upped their price target on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price objective on Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial began coverage on Veralto in a research note on Tuesday, August 26th. They issued a "market perform" rating on the stock. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $113.43.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the transaction, the chief executive officer owned 106,219 shares in the company, valued at approximately $11,286,830.94. This represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.36% of the company's stock.

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.