Veralto Co. (NYSE:VLTO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Veralto Co. (NYSE:VLTO) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,509 shares of the company’s stock after purchasing an additional 16,357 shares during the quarter. Principal Financial Group Inc. owned about 0.15% of Veralto worth $34,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Delta Asset Management LLC TN raised its stake in shares of Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after acquiring an additional 216 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Veralto in the 4th quarter valued at approximately $27,000. Hexagon Capital Partners LLC purchased a new stake in shares of Veralto in the 4th quarter valued at approximately $29,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of Veralto in the 4th quarter valued at approximately $30,000. Finally, LRI Investments LLC purchased a new stake in shares of Veralto in the 1st quarter valued at approximately $30,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VLTO. Royal Bank of Canada boosted their price target on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Robert W. Baird upped their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. The Goldman Sachs Group upped their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note 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 note on Monday, July 29th. Finally, TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.46.

Veralto Trading Up 0.6 %

Shares of NYSE:VLTO opened at $112.43 on Friday. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $112.77. The company’s 50 day moving average is $102.99 and its two-hundred day moving average is $96.28. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The company has a market cap of $27.75 billion and a PE ratio of 33.54.

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

Insider Activity

In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were 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 owns 12,671 shares in the company, valued at approximately $1,393,810. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mattias Bystrom sold 3,000 shares of the 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 sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,152 shares of company stock worth $1,211,920. Corporate insiders own 0.31% of the company’s stock.

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.