Northern Trust Corp Sells 50,012 Shares of Veralto Corporation $VLTO

Key Points

• Northern Trust Corp has reduced its stake in Veralto Corporation by 1.6%, now holding approximately 3.1 million shares valued at around $302.79 million.
• Veralto reported strong quarterly earnings, with earnings per share of $0.93, surpassing analysts' expectations, and a year-over-year revenue increase of 6.4%.
• The stock has received several upgrades, including a "strong-buy" rating from Wolfe Research, with a current consensus target price of $113.43.

Northern Trust Corp trimmed its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,107,131 shares of the company's stock after selling 50,012 shares during the quarter. Northern Trust Corp owned about 1.25% of Veralto worth $302,790,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VLTO. Brighton Jones LLC increased its holdings in Veralto by 16.1% in the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock worth $352,000 after buying an additional 479 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Veralto by 10.2% during the 4th quarter. NewEdge Advisors LLC now owns 4,802 shares of the company's stock valued at $489,000 after purchasing an additional 443 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Veralto by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 865,943 shares of the company's stock valued at $88,197,000 after purchasing an additional 153,814 shares during the period. MetLife Investment Management LLC grew its stake in shares of Veralto by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 70,345 shares of the company's stock valued at $7,165,000 after purchasing an additional 1,039 shares during the period. Finally, MML Investors Services LLC grew its stake in shares of Veralto by 4.9% during the 4th quarter. MML Investors Services LLC now owns 53,529 shares of the company's stock valued at $5,452,000 after purchasing an additional 2,488 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VLTO has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price target on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Wolfe Research raised 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 on the stock. Robert W. Baird lifted their price objective on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Veralto has an average rating of "Moderate Buy" and an average target price of $113.43.

Veralto Price Performance

Shares of VLTO traded down $1.79 during mid-day trading on Monday, hitting $107.36. 266,871 shares of the stock were exchanged, compared to its average volume of 1,363,930. The company has a market cap of $26.64 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 3.60 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 firm has a 50-day moving average of $103.55 and a two-hundred day moving average of $99.16. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%.The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. On average, equities analysts predict that Veralto Corporation will post 3.66 earnings per share for the current year.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 848 shares of the business'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 owned 8,433 shares of the company's stock, valued at approximately $847,938.15. The trade was a 9.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company's stock.

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.