Raymond James Financial Inc. Decreases Stake in Veralto Corporation $VLTO

Key Points

• Raymond James Financial Inc. reduced its position in Veralto Corporation by 6.2% during the first quarter, owning approximately 0.19% of the company after selling 31,857 shares.
• Veralto posted a strong quarterly earnings report with an EPS of $0.93, beating estimates and reflecting a year-over-year revenue growth of 6.4%.
• Analysts have set new price targets for Veralto, with ratings ranging from "buy" to "neutral", and an average target price of $113.43.

Raymond James Financial Inc. cut its holdings in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 6.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 478,558 shares of the company's stock after selling 31,857 shares during the period. Raymond James Financial Inc. owned 0.19% of Veralto worth $46,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Veralto during the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in shares of Veralto during the first quarter valued at approximately $45,000. Grove Bank & Trust boosted its stake in shares of Veralto by 198.2% during the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after purchasing an additional 339 shares in the last quarter. Global Financial Private Client LLC boosted its stake in shares of 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 shares of Veralto during the fourth quarter valued at approximately $60,000. 91.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Northcoast Research started coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Royal Bank Of Canada raised their target price on shares of 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 upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial started coverage on shares of Veralto in a research note on Tuesday. They issued a "market perform" rating for the company. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Veralto has a consensus rating of "Moderate Buy" and a consensus price target of $113.43.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the transaction, the senior vice president owned 8,433 shares of the company's stock, valued at approximately $847,938.15. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.36% of the company's stock.

Veralto Stock Performance

Shares of NYSE VLTO traded up $0.10 during midday trading on Wednesday, reaching $107.21. The company had a trading volume of 92,230 shares, compared to its average volume of 1,356,774. The business's 50-day simple moving average is $103.94 and its 200 day simple moving average is $99.27. The stock has a market cap of $26.61 billion, a P/E ratio of 29.91, a P/E/G ratio of 3.53 and a beta of 0.91. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00. 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 posted its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last 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, analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

About Veralto

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.