Veralto Co. (NYSE:VLTO) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its position in shares of Veralto Co. (NYSE:VLTO) by 8.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,148 shares of the company’s stock after purchasing an additional 5,100 shares during the quarter. State of Michigan Retirement System’s holdings in Veralto were worth $6,220,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VLTO. Delta Asset Management LLC TN grew its position in shares of Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 216 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Veralto during the fourth quarter valued at approximately $27,000. Hexagon Capital Partners LLC bought a new position in shares of Veralto during the fourth quarter valued at approximately $29,000. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Veralto during the 4th quarter worth approximately $30,000. Finally, LRI Investments LLC bought a new stake in shares of Veralto in the 1st quarter worth approximately $30,000. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. The disclosure for this sale can be found here. In the last three months, insiders sold 11,152 shares of company stock valued at $1,211,920. 0.31% of the stock is owned by insiders.

Veralto Price Performance

Shares of NYSE:VLTO opened at $111.10 on Tuesday. The stock has a market cap of $27.42 billion and a price-to-earnings ratio of 33.48. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.22. The stock’s 50 day moving average price is $102.09 and its 200 day moving average price is $95.65.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Robert W. Baird upped their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Company Profile

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.