Veralto Corporation $VLTO Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Veralto Corporation by 7.2% during the first quarter, holding 81,463 shares worth approximately $7.94 million.
• Multiple institutional investors have recently adjusted their positions in Veralto, with First Trust Advisors LP notably increasing its holdings by 222.3% in the last quarter.
• Analysts maintain a generally positive outlook on Veralto, with an average target price of $113.43 and a "Moderate Buy" rating across various research firms.

State of New Jersey Common Pension Fund D lessened its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,463 shares of the company's stock after selling 6,331 shares during the period. State of New Jersey Common Pension Fund D's holdings in Veralto were worth $7,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new position in shares of Veralto during the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Veralto in the 1st quarter worth approximately $45,000. Grove Bank & Trust grew its stake in shares of Veralto by 198.2% in the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after buying an additional 339 shares during the last quarter. Global Financial Private Client LLC grew its stake in shares of Veralto by 95.1% in 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 last quarter. Finally, Putney Financial Group LLC purchased a new stake in shares of Veralto in the 4th quarter worth approximately $60,000. Institutional investors own 91.28% of the company's stock.

Insider Activity at Veralto

In other news, SVP Surekha Trivedi sold 848 shares of the business's 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 completion of the transaction, the senior vice president directly owned 8,433 shares of the company's stock, valued at approximately $847,938.15. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.36% of the company's stock.

Analyst Ratings Changes

VLTO has been the topic of several recent research reports. Stifel Nicolaus set a $120.00 price target on Veralto and gave the stock a "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 target on the stock. Royal Bank Of Canada upped their price target on Veralto from $104.00 to $108.00 and gave the stock a "sector perform" 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. Finally, Robert W. Baird increased their price target on Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.43.

Veralto Trading Up 0.6%

VLTO traded up $0.6150 during trading hours on Friday, reaching $109.0850. 744,758 shares of the company's stock traded hands, compared to its average volume of 1,368,130. Veralto Corporation has a 52-week low of $83.86 and a 52-week high of $115.00. The firm has a market capitalization of $27.07 billion, a PE ratio of 30.47, a PEG ratio of 3.59 and a beta of 0.91. The firm has a 50-day moving average price of $103.31 and a 200 day moving average price of $99.07. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 41.45% and a net margin of 16.65%.The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. As a group, sell-side analysts predict that Veralto Corporation will post 3.66 EPS 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.