Korea Investment CORP Reduces Stake in Veralto Corporation $VLTO

Key Points

• Korea Investment CORP reduced its stake in Veralto Corporation by 2.3%, selling 4,478 shares, and now owns approximately 0.08% of the company valued at $18.19 million.
• Analysts remain optimistic about Veralto, with a consensus rating of "Moderate Buy" and an average price target of $113.43.
• Veralto's recent quarterly earnings surpassed expectations, reporting earnings per share of $0.93 and a revenue of $1.37 billion, indicating a year-over-year increase of 6.4%.

Korea Investment CORP decreased its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 2.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 186,655 shares of the company's stock after selling 4,478 shares during the period. Korea Investment CORP owned 0.08% of Veralto worth $18,190,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Baldwin Investment Management LLC lifted its holdings in Veralto by 3.4% during the 1st quarter. Baldwin Investment Management LLC now owns 3,219 shares of the company's stock worth $314,000 after purchasing an additional 106 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in Veralto by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock worth $652,000 after acquiring an additional 110 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Veralto by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock worth $856,000 after acquiring an additional 113 shares during the last quarter. Phoenix Financial Ltd. increased its stake in Veralto by 2.9% in the 1st quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company's stock worth $454,000 after acquiring an additional 132 shares during the last quarter. Finally, Argent Trust Co increased its stake in Veralto by 1.8% in the 1st quarter. Argent Trust Co now owns 8,096 shares of the company's stock worth $789,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Transactions 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 transaction, the senior vice president directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by insiders.

Veralto Price Performance

Shares of Veralto stock traded down $1.79 during trading on Monday, hitting $107.36. 266,871 shares of the stock traded hands, compared to its average volume of 1,363,930. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. The stock has a market cap of $26.64 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 3.60 and a beta of 0.91. The firm's fifty day moving average is $103.55 and its 200-day moving average is $99.16. 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 quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $0.85 EPS. Veralto's revenue for the quarter 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. Research analysts expect that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird upped their target price on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada upped their target price on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Northcoast Research assumed 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. Stifel Nicolaus set a $120.00 price objective on Veralto and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Wolfe Research upgraded Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Veralto 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.