Rathbones Group PLC Acquires 13,055 Shares of Veralto Corporation (NYSE:VLTO)

Key Points

• Rathbones Group PLC increased its holdings in Veralto Corporation by 81.1%, acquiring an additional 13,055 shares worth approximately $2.84 million.
• Several institutional investors have also increased their stakes in Veralto, with 91.28% of the stock now owned by institutional investors.
• Veralto recently surpassed analysts' earnings expectations, reporting $1.37 billion in revenue, a 6.4% year-over-year increase, and an EPS of $0.93.

Rathbones Group PLC increased its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 81.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,144 shares of the company's stock after buying an additional 13,055 shares during the quarter. Rathbones Group PLC's holdings in Veralto were worth $2,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Public Sector Pension Investment Board raised its holdings in Veralto by 8.3% in the 1st quarter. Public Sector Pension Investment Board now owns 33,579 shares of the company's stock valued at $3,272,000 after buying an additional 2,567 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in Veralto by 12.8% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,047 shares of the company's stock valued at $589,000 after buying an additional 685 shares during the last quarter. Nuveen LLC bought a new position in Veralto in the 1st quarter valued at approximately $172,399,000. Cooper Financial Group raised its holdings in Veralto by 3.7% in the 1st quarter. Cooper Financial Group now owns 8,861 shares of the company's stock valued at $863,000 after buying an additional 318 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Veralto in the 1st quarter valued at approximately $1,186,000. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction 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 transaction, the senior vice president owned 8,433 shares in the company, valued at $847,938.15. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VLTO shares. Northcoast Research started coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Stifel Nicolaus set a $120.00 target price on Veralto and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird lifted their price objective on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $113.43.

Veralto Price Performance

Veralto stock opened at $109.66 on Thursday. The stock's 50 day moving average is $102.30 and its 200 day moving average is $98.87. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The firm has a market cap of $27.21 billion, a P/E ratio of 30.63, a P/E/G ratio of 3.58 and a beta of 0.91. Veralto Corporation has a one year low of $83.86 and a one year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. Veralto had a return on equity of 41.45% and a net margin of 16.65%. The company 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 firm earned $0.85 earnings per share. The firm's quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Veralto 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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