Public Sector Pension Investment Board Raises Holdings in Veralto Corporation $VLTO

Key Points

• The Public Sector Pension Investment Board increased its stake in Veralto Corporation by 8.3%, acquiring an additional 2,567 shares for a total of 33,579 shares valued at approximately $3.27 million.
• Multiple research firms have upgraded Veralto's stock, with Wolfe Research rating it as a "strong-buy" and several others setting target prices between $108.00 and $120.00.
• Veralto reported a quarterly EPS of $0.93, exceeding expectations, while its revenue grew by 6.4% compared to the previous year.

Public Sector Pension Investment Board grew its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,579 shares of the company's stock after purchasing an additional 2,567 shares during the period. Public Sector Pension Investment Board's holdings in Veralto were worth $3,272,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Veralto by 1.3% during the first quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company's stock worth $2,897,916,000 after purchasing an additional 390,285 shares in the last quarter. Invesco Ltd. lifted its stake in Veralto by 6.9% during the first quarter. Invesco Ltd. now owns 4,856,071 shares of the company's stock worth $473,224,000 after purchasing an additional 314,704 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Veralto by 13.6% during the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock worth $415,074,000 after purchasing an additional 509,104 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Veralto by 26.8% during the first quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company's stock worth $314,137,000 after purchasing an additional 682,123 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Veralto by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,157,143 shares of the company's stock worth $321,555,000 after purchasing an additional 431,607 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird upped their price target on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price objective on Veralto and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wolfe Research upgraded Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Northcoast Research initiated coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, Royal Bank Of Canada increased their price objective on Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $113.43.

Insider Buying and Selling

In related 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 value of $85,266.40. Following the transaction, the senior vice president owned 8,433 shares of the company's stock, valued at $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by company insiders.

Veralto Stock Up 0.6%

NYSE:VLTO traded up $0.6150 during trading hours on Friday, hitting $109.0850. The company's stock had a trading volume of 1,108,497 shares, compared to its average volume of 1,247,016. The stock has a market capitalization of $27.07 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 3.57 and a beta of 0.91. The stock has a fifty day moving average of $103.55 and a 200-day moving average of $99.13. 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 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 earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%.Veralto's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. 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 forecast that Veralto Corporation will post 3.66 earnings per share for the current 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.