Veralto Corporation $VLTO Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC reduced its stake in Veralto Corporation by 4.9% during Q1, now holding approximately $49.50 million in stock.
• Veralto's stock has a market cap of $26.35 billion and reported a 6.4% year-over-year increase in quarterly revenue, totaling $1.37 billion.
• The company has received multiple "buy" ratings from analysts, with a consensus target price of approximately $113.43.

First Manhattan CO. LLC. lessened its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 507,463 shares of the company's stock after selling 26,240 shares during the period. First Manhattan CO. LLC. owned 0.20% of Veralto worth $49,504,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. bought a new stake in shares of Veralto during the fourth quarter worth $30,000. Truvestments Capital LLC increased its stake in shares of Veralto by 148.5% in the 1st quarter. Truvestments Capital LLC now owns 328 shares of the company's stock valued at $32,000 after acquiring an additional 196 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Veralto in the 1st quarter valued at $45,000. Grove Bank & Trust lifted its holdings in shares of Veralto by 198.2% in the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after purchasing an additional 339 shares in the last quarter. Finally, Global Financial Private Client LLC lifted its holdings in shares of Veralto by 95.1% in the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock worth $58,000 after purchasing an additional 289 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 10,646 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 106,219 shares of the company's stock, valued at $11,286,830.94. This trade 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 available through this link. Insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VLTO shares. Robert W. Baird raised their price objective on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial initiated coverage on Veralto in a report on Tuesday, August 26th. They set a "market perform" rating on the stock. Royal Bank Of Canada lifted their price objective on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Northcoast Research started coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price on the stock. Finally, Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Veralto currently has a consensus rating of "Moderate Buy" and an average price target of $113.43.

Veralto Stock Performance

Veralto stock traded down $0.30 during trading on Wednesday, reaching $104.98. The company had a trading volume of 1,030,320 shares, compared to its average volume of 893,130. The firm has a market capitalization 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 company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. The firm's 50-day simple moving average is $104.88 and its 200 day simple moving average is $99.54. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. The firm 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%.The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $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. Sell-side analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

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.