Public Employees Retirement System of Ohio Reduces Stock Position in Veralto Corporation $VLTO

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Veralto Corporation by 4.2%, owning 76,686 shares valued at approximately $7.74 million after selling 3,365 shares in Q2.
• Veralto's CEO, Jennifer Honeycutt, sold 10,646 shares for over $1.13 million, reflecting a 9.11% decrease in her position.
• The current average analyst rating for Veralto is a Moderate Buy with a consensus price target of $114.25, following recent adjustments by several firms.

Public Employees Retirement System of Ohio trimmed its position in Veralto Corporation (NYSE:VLTO - Free Report) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,686 shares of the company's stock after selling 3,365 shares during the period. Public Employees Retirement System of Ohio's holdings in Veralto were worth $7,741,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VLTO. Nuveen LLC acquired a new stake in Veralto during the first quarter worth approximately $172,399,000. Alliancebernstein L.P. lifted its stake in shares of Veralto by 28.0% during the 1st quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company's stock worth $607,656,000 after purchasing an additional 1,363,502 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Veralto by 8.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company's stock worth $1,027,264,000 after purchasing an additional 811,843 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Veralto by 26.8% in the first quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company's stock valued at $314,137,000 after purchasing an additional 682,123 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Veralto by 13.6% in the first 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 last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction on Friday, August 29th. The shares were sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the sale, the chief executive officer owned 106,219 shares of the company's stock, valued at $11,286,830.94. The trade was a 9.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of research analyst reports. Stifel Nicolaus set a $120.00 price target on Veralto and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Robert W. Baird raised their target price on shares of Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Raymond James Financial initiated coverage on shares of Veralto in a research report on Tuesday, August 26th. They set a "market perform" rating for the company. Barclays assumed coverage on shares of Veralto in a report on Friday, September 19th. They issued an "overweight" rating and a $120.00 price target on the stock. Finally, Royal Bank Of Canada increased their target price on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Veralto currently has an average rating of "Moderate Buy" and a consensus price target of $114.25.

Veralto Price Performance

VLTO stock opened at $104.62 on Friday. The firm has a market cap of $25.96 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.47 and a beta of 0.91. 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 Corporation has a 1 year low of $83.86 and a 1 year high of $115.00. The stock has a 50-day simple moving average of $106.29 and a 200-day simple moving average of $100.46.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.93 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $0.85 EPS. Veralto's revenue for the quarter was up 6.4% on a year-over-year basis. 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 fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Veralto's dividend payout ratio (DPR) is presently 12.29%.

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.

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