Charles Schwab Investment Management Inc. Sells 23,372 Shares of Veralto Corporation (NYSE:VLTO)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,572,603 shares of the company's stock after selling 23,372 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of Veralto worth $153,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. ASR Vermogensbeheer N.V. purchased a new position in shares of Veralto during the first quarter valued at approximately $1,716,000. Vanguard Group Inc. raised its holdings in shares of Veralto by 1.3% during the first quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company's stock valued at $2,897,916,000 after purchasing an additional 390,285 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Veralto by 29.8% during the first quarter. Atria Wealth Solutions Inc. now owns 6,929 shares of the company's stock valued at $675,000 after purchasing an additional 1,590 shares during the last quarter. ING Groep NV grew its position in Veralto by 12.1% during the first quarter. ING Groep NV now owns 211,879 shares of the company's stock valued at $20,648,000 after buying an additional 22,893 shares during the period. Finally, Raiffeisen Bank International AG grew its position in Veralto by 464.2% during the first quarter. Raiffeisen Bank International AG now owns 21,112 shares of the company's stock valued at $2,028,000 after buying an additional 17,370 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the stock in a transaction dated 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 directly owned 8,433 shares in the company, valued at $847,938.15. This represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 target price on shares of Veralto and gave the company a "buy" rating in a research report on Wednesday, July 30th. Northcoast Research assumed coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird boosted their target price on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Veralto currently has a consensus rating of "Moderate Buy" and an average target price of $113.43.

Veralto Trading Down 1.8%

Shares of NYSE VLTO traded down $1.99 during mid-day trading on Thursday, reaching $107.76. The company had a trading volume of 686,089 shares, compared to its average volume of 1,382,061. The business's 50-day moving average is $102.30 and its 200-day moving average is $98.87. 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 stock has a market cap of $26.74 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 3.58 and a beta of 0.91. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm's quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts expect that Veralto Corporation will post 3.66 earnings per share for the current 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.