Comerica Bank Has $6.03 Million Stock Holdings in Veralto Corporation $VLTO

Key Points

• Comerica Bank increased its holdings in Veralto Corporation by 12.5% in Q1, owning 61,895 shares valued at approximately $6 million.
• Several other institutional investors, including Park Avenue Securities and Allspring Global Investments, also boosted their stakes, indicating strong institutional interest in Veralto, which is 91.28% owned by such investors.
• Veralto reported better-than-expected quarterly earnings with an EPS of $0.93, exceeding analyst expectations, and provided FY 2025 earnings guidance of $3.720-3.800 EPS.

Comerica Bank lifted its position in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 12.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,895 shares of the company's stock after acquiring an additional 6,853 shares during the period. Comerica Bank's holdings in Veralto were worth $6,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in VLTO. Bernard Wealth Management Corp. bought a new stake in shares of Veralto during the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new position in Veralto in the 1st quarter valued at approximately $45,000. Grove Bank & Trust lifted 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 purchasing an additional 339 shares during the last quarter. Global Financial Private Client LLC lifted its stake in Veralto by 95.1% in the 1st quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock valued at $58,000 after purchasing an additional 289 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in Veralto in the 4th quarter valued at approximately $60,000. Institutional investors own 91.28% of the company's stock.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 10,646 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 106,219 shares in the company, valued at $11,286,830.94. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

Veralto Trading Down 0.3%

Shares of VLTO traded down $0.30 during trading hours on Wednesday, hitting $104.98. 178,062 shares of the stock were exchanged, compared to its average volume of 1,340,974. Veralto Corporation has a fifty-two week low of $83.86 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06. The business has a 50-day moving average of $104.78 and a 200-day moving average of $99.51. The firm has a market capitalization of $26.05 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 3.53 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data 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. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the company posted $0.85 earnings per share. Veralto's revenue for the quarter 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, research analysts expect that Veralto Corporation will post 3.66 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on VLTO shares. Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their price objective 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. Northcoast Research started coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, Robert W. Baird increased their price objective on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Veralto presently has an average rating of "Moderate Buy" and an average 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.