Veralto Corporation (NYSE:VLTO) Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. has increased its holdings in Veralto Corporation by 18.0%, now owning approximately $29.33 million in stock.
• Veralto's recent quarterly earnings report showed a profit of $0.93 EPS, surpassing expectations and reflecting a 6.4% year-over-year revenue increase.
• Wall Street analysts maintain a mixed outlook on Veralto, with an average rating of "Moderate Buy" and a target price of $114.00.

Citigroup Inc. raised its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 18.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,960 shares of the company's stock after buying an additional 45,839 shares during the quarter. Citigroup Inc. owned about 0.12% of Veralto worth $29,329,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of VLTO. Baldwin Investment Management LLC boosted its holdings in shares of Veralto by 3.4% in the 1st quarter. Baldwin Investment Management LLC now owns 3,219 shares of the company's stock valued at $314,000 after purchasing an additional 106 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Veralto by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock valued at $652,000 after purchasing an additional 110 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Veralto by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock valued at $856,000 after purchasing an additional 113 shares during the last quarter. Phoenix Financial Ltd. boosted its holdings in shares of Veralto by 2.9% in the 1st quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company's stock valued at $454,000 after purchasing an additional 132 shares during the last quarter. Finally, Argent Trust Co boosted its holdings in shares of Veralto by 1.8% in the 1st quarter. Argent Trust Co now owns 8,096 shares of the company's stock valued at $789,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total transaction of $85,266.40. Following the sale, the senior vice president owned 8,433 shares of the company's stock, valued at $847,938.15. The trade was a 9.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VLTO shares. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the company a "buy" rating in a report on Wednesday, July 30th. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target on the stock. Royal Bank Of Canada raised their target price on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Robert W. Baird raised their target price on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.43.

Veralto Trading Down 1.8%

Shares of VLTO stock traded down $1.99 during mid-day trading on Thursday, reaching $107.76. The company's stock had a trading volume of 957,202 shares, compared to its average volume of 1,384,563. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00. The firm has a market capitalization of $26.74 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 3.58 and a beta of 0.91. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. The company's 50 day simple moving average is $102.30 and its 200-day simple moving average is $98.87.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm's quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts predict that Veralto Corporation will post 3.66 EPS for the current fiscal year.

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.