JPMorgan Chase & Co. Has $314.14 Million Stake in Veralto Corporation (NYSE:VLTO)

Key Points

• JPMorgan Chase & Co. increased its holding in Veralto Corporation by 26.8%, acquiring 682,123 additional shares, bringing its total ownership to approximately 3.22 million shares, valued at $314 million.
• Veralto has received recent upgrades from several analysts, with target prices ranging from $108 to $120, and currently has an average rating of Moderate Buy.
• The company reported a 6.4% revenue increase year-over-year, with earnings per share of $0.93, surpassing analysts' estimates of $0.89.

JPMorgan Chase & Co. grew its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 26.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,223,571 shares of the company's stock after purchasing an additional 682,123 shares during the period. JPMorgan Chase & Co. owned approximately 1.30% of Veralto worth $314,137,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Veralto by 1.3% during the first quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company's stock valued at $2,897,916,000 after buying an additional 390,285 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Veralto by 13.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock valued at $415,074,000 after purchasing an additional 509,104 shares during the period. Northern Trust Corp boosted its position in shares of Veralto by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,157,143 shares of the company's stock valued at $321,555,000 after purchasing an additional 431,607 shares during the period. Federated Hermes Inc. boosted its position in shares of Veralto by 1.0% in the 1st quarter. Federated Hermes Inc. now owns 3,066,510 shares of the company's stock valued at $298,831,000 after purchasing an additional 29,802 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Veralto by 12.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,610,965 shares of the company's stock valued at $265,927,000 after purchasing an additional 291,472 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO stock traded down $1.99 during trading on Thursday, reaching $107.76. The company had a trading volume of 957,202 shares, compared to its average volume of 1,373,639. The firm's 50 day simple moving average is $102.47 and its two-hundred day simple moving average is $98.91. 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 Corporation has a one year low of $83.86 and a one year high of $115.00. The company has a market capitalization of $26.74 billion, a PE ratio of 30.10, a PEG ratio of 3.62 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. The business had revenue of $1.37 billion for 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 firm's revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. Sell-side analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wolfe Research upgraded Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Northcoast Research began coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Robert W. Baird raised their price objective on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price objective on Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their price target on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Three 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, the company currently has an average rating of "Moderate Buy" and an average price target of $113.43.

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.