Gates Capital Management Inc. Has $126.91 Million Stock Holdings in Veralto Corporation $VLTO

Key Points

• Gates Capital Management Inc. increased its stake in Veralto Corporation by 8.0%, making it the firm's 10th largest position with approximately 2.5% of its portfolio valued at $126.9 million.
• Multiple institutional investors, including Park Avenue Securities and Allspring Global Investments, have also raised their stakes in Veralto during the first quarter, indicating strong institutional interest.
• Veralto recently reported earnings of $0.93 EPS for the last quarter, surpassing expectations and showing a revenue increase of 6.4% year-over-year.

Gates Capital Management Inc. increased its holdings in Veralto Corporation (NYSE:VLTO - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,302,294 shares of the company's stock after buying an additional 96,971 shares during the period. Veralto accounts for approximately 2.5% of Gates Capital Management Inc.'s portfolio, making the stock its 10th largest holding. Gates Capital Management Inc. owned approximately 0.53% of Veralto worth $126,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VLTO. Nuveen LLC bought a new position in Veralto in the first quarter valued at $172,399,000. BNP Paribas Financial Markets bought a new position in shares of Veralto during the fourth quarter valued at about $96,888,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Veralto by 8.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company's stock valued at $1,027,264,000 after buying an additional 811,843 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Veralto by 26.8% during the first quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company's stock valued at $314,137,000 after buying an additional 682,123 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Veralto by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock worth $415,074,000 after purchasing an additional 509,104 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Stock Down 0.3%

Shares of VLTO stock traded down $0.30 during trading hours on Wednesday, hitting $104.98. 1,030,320 shares of the company's stock traded hands, compared to its average volume of 893,130. The stock's fifty day simple moving average is $104.88 and its two-hundred day simple moving average is $99.54. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00. The stock has a market cap of $26.05 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.53 and a beta of 0.91. 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 released its earnings results on Monday, July 28th. The company reported $0.93 earnings per share (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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business earned $0.85 earnings per share. The business's revenue was up 6.4% on a year-over-year basis. 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 expect that Veralto Corporation will post 3.66 EPS for the current year.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $106.26, for a total transaction of $1,131,243.96. Following the completion of the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at approximately $11,286,830.94. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on VLTO shares. Wolfe Research raised Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Northcoast Research started coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price on the stock. 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 note on Wednesday, July 30th. Raymond James Financial started coverage on Veralto in a research note on Tuesday, August 26th. They issued a "market perform" rating on the stock. Finally, Stifel Nicolaus set a $120.00 target price on Veralto and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.43.

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.