Veralto Corporation $VLTO Shares Bought by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has increased its stake in Veralto Corporation by 28%, now owning approximately 6.24 million shares valued at around $607.66 million.
• Veralto reported a Q2 EPS of $0.93, surpassing the consensus estimate of $0.89, alongside a revenue of $1.37 billion, which also exceeded expectations.
• Analysts project a Moderate Buy rating for Veralto, with a consensus target price of $113.43, influenced by multiple recent upgrades and price target increases.

Alliancebernstein L.P. increased its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 28.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,235,563 shares of the company's stock after purchasing an additional 1,363,502 shares during the quarter. Alliancebernstein L.P. owned 2.52% of Veralto worth $607,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in Veralto in the 4th quarter valued at about $30,000. Truvestments Capital LLC lifted its stake in Veralto by 148.5% during the first quarter. Truvestments Capital LLC now owns 328 shares of the company's stock worth $32,000 after purchasing an additional 196 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Veralto during the first quarter worth approximately $45,000. Grove Bank & Trust raised its stake in shares of Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after purchasing an additional 339 shares during the last quarter. Finally, Global Financial Private Client LLC raised its stake in shares of Veralto by 95.1% during the first quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock worth $58,000 after purchasing an additional 289 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Veralto Stock Up 0.1%

Shares of VLTO stock traded up $0.08 during trading hours on Monday, reaching $105.79. The company had a trading volume of 239,994 shares, compared to its average volume of 1,335,821. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $115.00. The company has a market capitalization of $26.25 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 3.51 and a beta of 0.91. The stock's fifty day simple moving average is $105.07 and its 200 day simple moving average is $99.68.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. Veralto had a return on equity of 41.45% and a net margin of 16.65%.The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. As a group, sell-side analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the completion of the sale, the chief executive officer owned 106,219 shares in the company, valued at $11,286,830.94. This trade represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

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.