Mizuho Securities USA LLC Reduces Position in Veralto Corporation (NYSE:VLTO)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Veralto Corporation (NYSE:VLTO) by 15.5%, now holding 19,802 shares valued at approximately $1.93 million.
• Analysts have varied price targets for Veralto, with some increasing targets to as high as $120.00, while Citigroup has lowered its target to $100.00, showing a mixed outlook for the stock.
• Veralto recently reported an EPS of $0.93, exceeding analysts' expectations and indicating a 6.4% year-over-year revenue increase to $1.37 billion for the last quarter.

Mizuho Securities USA LLC cut its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,802 shares of the company's stock after selling 3,637 shares during the quarter. Mizuho Securities USA LLC's holdings in Veralto were worth $1,930,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Veralto during the fourth quarter worth about $30,000. Opal Wealth Advisors LLC purchased a new position in Veralto during the first quarter worth about $45,000. Grove Bank & Trust raised its stake in Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after purchasing an additional 339 shares during the period. Global Financial Private Client LLC raised its stake in Veralto by 95.1% during 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 position in Veralto during the fourth quarter worth about $60,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 848 shares of the company's 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 sale, the senior vice president directly owned 8,433 shares of the company's stock, valued at $847,938.15. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VLTO has been the topic of a number of analyst reports. Stifel Nicolaus set a $120.00 target price on shares of Veralto and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Robert W. Baird boosted their price target 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. Northcoast Research started coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.43.

Veralto Stock Down 1.8%

VLTO traded down $1.99 during trading hours on Thursday, hitting $107.76. 957,202 shares of the company's stock were exchanged, compared to its average volume of 1,384,563. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00. The firm has a 50 day moving average of $102.47 and a 200 day moving average of $98.91. The firm has a market cap of $26.74 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 3.58 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.

Veralto (NYSE:VLTO - Get Free Report) last announced 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 net margin of 16.65% and a return on equity of 41.45%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. Analysts predict that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Company 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.