Canada Pension Plan Investment Board Reduces Holdings in Veralto Corporation $VLTO

Key Points

• Canada Pension Plan Investment Board reduced its stake in Veralto Corporation by 18.7%, now holding approximately $34.28 million worth of shares after selling 80,700 shares in the first quarter.
• Veralto reported earnings of $0.93 per share for the last quarter, surpassing estimates and showing a 6.4% year-over-year revenue growth.
• Analyst ratings for Veralto show a favorable outlook, with five analysts rating it a Buy and an average target price of $113.43.

Canada Pension Plan Investment Board lessened its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 351,769 shares of the company's stock after selling 80,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.14% of Veralto worth $34,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC lifted its holdings in shares of Veralto by 11.5% during the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock worth $1,872,000 after purchasing an additional 1,985 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Veralto by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock worth $856,000 after purchasing an additional 113 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Veralto by 9.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 26,833 shares of the company's stock worth $2,619,000 after purchasing an additional 2,313 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Veralto by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock worth $1,417,000 after purchasing an additional 429 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Veralto by 12.8% during the first quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock worth $287,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Price Performance

Shares of VLTO traded down $0.30 during trading hours on Wednesday, hitting $104.98. 1,030,320 shares of the stock were exchanged, compared to its average volume of 893,130. 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 12-month low of $83.86 and a 12-month high of $115.00. The company has a market cap of $26.05 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 3.53 and a beta of 0.91. The stock's 50-day moving average price is $104.88 and its two-hundred day moving average price is $99.54.

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

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the business'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 directly owned 106,219 shares in the company, valued at approximately $11,286,830.94. The trade was a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on VLTO. Robert W. Baird boosted their price target on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price target on Veralto and gave the company a "buy" rating in a report on Wednesday, July 30th. Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada upped their target price on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial assumed coverage on Veralto in a research note on Tuesday, August 26th. They set a "market perform" rating for the company. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $113.43.

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.