Deutsche Bank AG Sells 31,361 Shares of Veralto Corporation (NYSE:VLTO)

Key Points

• Deutsche Bank AG has decreased its stake in Veralto Corporation by 2.3%, selling 31,361 shares in Q1, while holding approximately 1,336,625 shares valued at $130.25 million.
• Several hedge funds have recently adjusted their holdings in Veralto, with Chicago Partners Investment Group increasing its position by 14.7% and Vanguard Group raising its stake to nearly $2.9 billion.
• Veralto announced a quarterly dividend of $0.11, yielding 0.4%, and reported Q2 earnings per share of $0.93, exceeding analyst expectations.

Deutsche Bank AG trimmed its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,336,625 shares of the company's stock after selling 31,361 shares during the period. Deutsche Bank AG owned 0.54% of Veralto worth $130,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in VLTO. Bernard Wealth Management Corp. acquired a new stake in Veralto in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in Veralto in the 1st quarter valued at approximately $45,000. Grove Bank & Trust grew its holdings in Veralto by 198.2% in the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after buying an additional 339 shares during the last quarter. Global Financial Private Client LLC grew its holdings in Veralto by 95.1% in the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock valued at $58,000 after buying an additional 289 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new stake in Veralto in the 4th quarter valued at approximately $60,000. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

Shares of Veralto stock traded down $1.72 during midday trading on Thursday, hitting $108.03. 306,034 shares of the company were exchanged, compared to its average volume of 1,380,143. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The firm has a market cap of $26.81 billion, a P/E ratio of 30.15, a PEG ratio of 3.58 and a beta of 0.91. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00. The firm has a 50 day simple moving average of $102.30 and a 200-day simple moving average of $98.87.

Veralto (NYSE:VLTO - Get Free Report) last posted its 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. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%. Veralto's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Research analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Insider Activity at Veralto

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stifel Nicolaus set a $120.00 target price 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 lifted their price objective on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Robert W. Baird lifted their price objective on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Northcoast Research assumed coverage on Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $113.43.

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.