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Invesco Ltd. Boosts Holdings in Veralto Corporation (NYSE:VLTO)

Veralto logo with Business Services background

Key Points

  • Invesco Ltd. increased its stake in Veralto Corporation by 6.9%, acquiring 314,704 shares during the first quarter, resulting in a total holding of approximately 4.86 million shares valued at $473.2 million.
  • Several analysts have issued positive ratings for Veralto, with a consensus rating of "Moderate Buy" and a price target averaging $114.00 following multiple upgrades and new coverage reports.
  • Veralto recently reported a quarterly earnings per share of $0.93, exceeding expectations, with revenue of $1.37 billion, marking a 6.4% increase year-over-year.
  • Want stock alerts on Veralto? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Invesco Ltd. increased its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,856,071 shares of the company's stock after buying an additional 314,704 shares during the quarter. Invesco Ltd. owned about 1.96% of Veralto worth $473,224,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Veralto during the fourth quarter valued at $30,000. Opal Wealth Advisors LLC bought a new stake in Veralto during the 1st quarter worth approximately $45,000. Grove Bank & Trust lifted its holdings in Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after purchasing an additional 339 shares in the last quarter. Global Financial Private Client LLC boosted its position in shares of Veralto by 95.1% in the first quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock worth $58,000 after purchasing an additional 289 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in shares of Veralto in the fourth quarter worth $60,000. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Northcoast Research began coverage on Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective on the stock. Stifel Nicolaus set a $120.00 target price on shares of Veralto and gave the stock a "buy" rating in a report 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. Royal Bank Of Canada boosted their price target on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $113.43.

Read Our Latest Report on VLTO

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 848 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 8,433 shares of the company's stock, valued at $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.36% of the company's stock.

Veralto Trading Down 1.8%

Shares of NYSE:VLTO traded down $1.99 on Thursday, hitting $107.76. 957,201 shares of the company's stock were exchanged, compared to its average volume of 1,384,563. The business's 50 day simple moving average is $102.30 and its two-hundred day simple moving average is $98.87. 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 stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 3.58 and a beta of 0.91. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.93 earnings per share 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 business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business earned $0.85 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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