Royal Bank of Canada Purchases 136,708 Shares of Veralto Corporation $VLTO

Key Points

• Royal Bank of Canada increased its holdings in Veralto Corporation by 13.1%, owning approximately 1,177,453 shares worth $114.7 million as of the latest SEC filing.
• Several analysts have upgraded Veralto's stock ratings, with price targets ranging from $108 to $120, indicating a positive outlook for the company.
• Veralto reported strong quarterly earnings, with a net revenue of $1.37 billion and earnings per share of $0.93, surpassing expectations and reflecting a 6.4% year-over-year increase.

Royal Bank of Canada lifted its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 13.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,177,453 shares of the company's stock after acquiring an additional 136,708 shares during the quarter. Royal Bank of Canada owned approximately 0.48% of Veralto worth $114,741,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VLTO. Bernard Wealth Management Corp. purchased a new position in shares of Veralto in the 4th quarter valued at about $30,000. Truvestments Capital LLC grew its position in shares of Veralto by 148.5% during the 1st quarter. Truvestments Capital LLC now owns 328 shares of the company's stock valued at $32,000 after buying an additional 196 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Veralto in the 1st quarter worth approximately $45,000. Grove Bank & Trust increased its stake in Veralto by 198.2% in the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock valued at $50,000 after buying an additional 339 shares during the period. Finally, Global Financial Private Client LLC boosted its holdings in shares of Veralto by 95.1% during the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock worth $58,000 after buying an additional 289 shares during the period. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Activity at Veralto

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the completion of the sale, the chief executive officer owned 106,219 shares in the company, valued at approximately $11,286,830.94. The trade was a 9.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target 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. Raymond James Financial initiated coverage on Veralto in a research report on Tuesday, August 26th. They set a "market perform" rating for the company. Robert W. Baird boosted their target price on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Wolfe Research upgraded Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $120.00 price objective on Veralto and gave the stock a "buy" rating in a report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $113.43.

Veralto Stock Up 0.7%

VLTO stock traded up $0.79 during midday trading on Monday, reaching $106.50. The company had a trading volume of 436,899 shares, compared to its average volume of 1,337,004. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $26.43 billion, a P/E ratio of 29.74, a PEG ratio of 3.51 and a beta of 0.91. The company has a 50 day moving average of $105.07 and a two-hundred day moving average of $99.68. Veralto Corporation has a 1 year low of $83.86 and a 1 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, beating the consensus estimate of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $0.85 EPS. The firm's revenue was up 6.4% compared to the same quarter last year. 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 research analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal 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.