Russell Investments Group Ltd. Has $45.55 Million Stock Holdings in Veralto Corporation (NYSE:VLTO)

Key Points

• Russell Investments Group Ltd. reduced its stake in Veralto Corporation by 14.0%, selling 75,869 shares during the first quarter, now holding 467,661 shares valued at approximately $45.5 million.
• Veralto reported $0.93 EPS for its latest quarter, exceeding estimates by $0.04, alongside a 6.4% year-over-year revenue increase, totaling $1.37 billion.
• Several analysts upgraded Veralto's stock rating to "strong-buy" and set price targets ranging from $108.00 to $120.00, with a consensus rating of "Moderate Buy."

Russell Investments Group Ltd. trimmed its position in Veralto Corporation (NYSE:VLTO - Free Report) by 14.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 467,661 shares of the company's stock after selling 75,869 shares during the period. Russell Investments Group Ltd. owned 0.19% of Veralto worth $45,551,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Veralto by 16.1% during the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock worth $352,000 after purchasing an additional 479 shares during the last quarter. Advisory Services Network LLC bought a new position in Veralto during the 4th quarter worth $250,000. Sterling Capital Management LLC raised its position in Veralto by 36.5% during the 4th quarter. Sterling Capital Management LLC now owns 9,866 shares of the company's stock worth $1,005,000 after purchasing an additional 2,637 shares during the last quarter. SageView Advisory Group LLC bought a new position in Veralto during the 4th quarter worth $317,000. Finally, Barclays PLC raised its position in Veralto by 4.8% during the 4th quarter. Barclays PLC now owns 764,026 shares of the company's stock worth $77,815,000 after purchasing an additional 34,945 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Down 0.5%

Veralto stock traded down $0.53 during trading hours on Friday, reaching $107.14. 1,130,053 shares of the company's stock were exchanged, compared to its average volume of 1,363,728. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. The firm's 50 day simple moving average is $102.60 and its 200 day simple moving average is $98.90. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $115.00. The firm has a market capitalization of $26.59 billion, a PE ratio of 28.84, a PEG ratio of 3.53 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.85 EPS. The business's revenue was up 6.4% compared to the same quarter last year. Research analysts predict that Veralto Corporation will post 3.66 earnings per share for the current year.

Analyst Ratings Changes

VLTO has been the subject of several analyst reports. Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Robert W. Baird raised their target price on Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada raised 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. Finally, Stifel Nicolaus set a $120.00 target price on Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veralto has an average rating of "Moderate Buy" and a consensus target price of $113.43.

Insider Activity at Veralto

In other news, SVP Surekha Trivedi sold 848 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the sale, the senior vice president directly owned 8,433 shares in the company, valued at $847,938.15. This trade represents a 9.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by corporate insiders.

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.