Neuberger Berman Group LLC Boosts Stake in Veralto Corporation (NYSE:VLTO)

Key Points

• Neuberger Berman Group LLC has increased its stake in Veralto Corporation by 5.6%, acquiring an additional 43,626 shares, bringing its total ownership to 819,223 shares valued at approximately $79.8 million.
• Several large investors, including Bernard Wealth Management and Opal Wealth Advisors, have recently initiated or expanded their positions in Veralto, contributing to institutional ownership of 91.28% of the company's stock.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Veralto, with price targets ranging from $108.00 to $120.00, indicating positive sentiment about the company's growth prospects.

Neuberger Berman Group LLC grew its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 819,223 shares of the company's stock after purchasing an additional 43,626 shares during the period. Neuberger Berman Group LLC owned approximately 0.33% of Veralto worth $79,833,000 at the end of the most recent reporting period.

Several 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 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Veralto in the first quarter valued at $45,000. Grove Bank & Trust increased its position in Veralto by 198.2% in 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 last quarter. 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 valued at $58,000 after purchasing an additional 289 shares in the last quarter. Finally, Putney Financial Group LLC bought a new position in Veralto during the fourth quarter valued at $60,000. 91.28% of the stock is owned by institutional investors.

Veralto Trading Down 0.5%

Shares of NYSE VLTO traded down $0.53 during mid-day trading on Friday, reaching $107.14. The company had a trading volume of 1,130,053 shares, compared to its average volume of 1,363,728. The stock has a market cap of $26.59 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 3.53 and a beta of 0.91. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00. The business's 50-day moving average is $102.60 and its 200-day moving average is $98.90. 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 issued its earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. Equities analysts expect that Veralto Corporation will post 3.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 848 shares of the stock in a transaction 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 owned 8,433 shares of the company's stock, valued at approximately $847,938.15. This represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on VLTO shares. Robert W. Baird boosted their target price on shares of Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Royal Bank Of Canada lifted their target price on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Wolfe Research upgraded Veralto from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the stock a "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. Based on data from MarketBeat.com, Veralto currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.43.

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.