HighTower Advisors LLC Sells 44,219 Shares of Veralto Corporation $VLTO

Key Points

• HighTower Advisors LLC reduced its stake in Veralto Corporation by 47%, owning 49,862 shares valued at approximately $4.86 million following the sale of over 44,000 shares.
• Veralto received positive ratings from several analysts, with Wolfe Research upgrading it to a "strong-buy" and target prices ranging up to $120.00 from various firms.
• In its latest earnings report, Veralto beat expectations with an EPS of $0.93 and a revenue of $1.37 billion, indicating a 6.4% year-over-year growth.

HighTower Advisors LLC lessened its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 47.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,862 shares of the company's stock after selling 44,219 shares during the quarter. HighTower Advisors LLC's holdings in Veralto were worth $4,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto during the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Veralto during the 1st quarter worth approximately $45,000. Grove Bank & Trust grew its position in shares of Veralto by 198.2% during the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after buying an additional 339 shares during the period. Global Financial Private Client LLC grew its position in shares of Veralto by 95.1% during the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock worth $58,000 after buying an additional 289 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in shares of Veralto during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Trading Up 0.6%

Shares of NYSE VLTO traded up $0.6150 during midday trading on Friday, reaching $109.0850. 1,108,497 shares of the stock were exchanged, compared to its average volume of 1,247,016. The business has a 50-day simple moving average of $103.55 and a two-hundred day simple moving average of $99.15. The company has a market capitalization of $27.07 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 3.60 and a beta of 0.91. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $115.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the firm posted $0.85 earnings per share. The business's quarterly revenue 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, equities research analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages have recently commented on VLTO. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Robert W. Baird upped 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, Northcoast Research started coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.