Virtus Advisers LLC Takes $232,000 Position in Veralto Corporation $VLTO

Key Points

• Virtus Advisers LLC acquired 2,378 shares of Veralto Corporation for approximately $232,000 in the first quarter, marking a new investment by the institutional investor.
• Veralto's stock opened at $109.0850, having a market capitalization of $27.07 billion and showing a year-over-year revenue increase of 6.4% to $1.37 billion.
• Analysts have a consensus rating of "Moderate Buy" for Veralto, with an average price target of $113.43 based on recent upgrades from multiple research firms.

Virtus Advisers LLC bought a new stake in Veralto Corporation (NYSE:VLTO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,378 shares of the company's stock, valued at approximately $232,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Veralto by 1.3% in the first quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company's stock valued at $2,897,916,000 after acquiring an additional 390,285 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Veralto by 8.3% in 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 acquiring an additional 811,843 shares during the last quarter. Invesco Ltd. raised its stake in shares of Veralto by 6.9% in the first quarter. Invesco Ltd. now owns 4,856,071 shares of the company's stock valued at $473,224,000 after acquiring an additional 314,704 shares during the last quarter. Bank of New York Mellon Corp raised 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 valued at $415,074,000 after acquiring an additional 509,104 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Veralto by 26.8% in the first quarter. JPMorgan Chase & Co. now owns 3,223,571 shares of the company's stock valued at $314,137,000 after acquiring an additional 682,123 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Insider Activity

In other news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The shares were 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 owned 8,433 shares of the company's stock, valued at $847,938.15. The trade was a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective on shares of Veralto from $104.00 to $108.00 and gave the stock a "sector perform" 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 issued a "buy" rating and a $110.00 price objective for the company. Robert W. Baird boosted their price objective on shares of Veralto from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wolfe Research upgraded shares of Veralto from a "hold" rating to a "strong-buy" rating in a research report 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.43.

Veralto Trading Up 0.3%

Shares of Veralto stock traded up $0.30 on Wednesday, hitting $107.41. 597,083 shares of the company's stock traded hands, compared to its average volume of 1,122,092. The firm's 50-day moving average price is $104.15 and its two-hundred day moving average price is $99.33. The stock has a market capitalization of $26.65 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 3.53 and a beta of 0.91. Veralto Corporation has a one year low of $83.86 and a one year 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.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. On average, research analysts expect 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.