Signaturefd LLC Decreases Position in Veralto Co. (NYSE:VLTO)

Signaturefd LLC decreased its stake in Veralto Co. (NYSE:VLTO) by 6.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,871 shares of the company’s stock after selling 126 shares during the quarter. Signaturefd LLC’s holdings in Veralto were worth $179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of VLTO. LRI Investments LLC purchased a new position in Veralto in the first quarter valued at about $30,000. Delta Asset Management LLC TN boosted its holdings in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Veralto in the fourth quarter valued at about $27,000. Cassady Schiller Wealth Management LLC purchased a new position in Veralto in the fourth quarter valued at about $30,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Veralto in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.6 %

VLTO opened at $112.43 on Tuesday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The stock has a market cap of $27.78 billion and a P/E ratio of 33.97. The stock’s 50 day moving average price is $102.99 and its 200 day moving average price is $96.46.

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

Analysts Set New Price Targets

Several brokerages have issued reports on VLTO. Robert W. Baird upped their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Stifel Nicolaus upped their price objective on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, TD Cowen upped their price objective on Veralto from $95.00 to $100.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Veralto news, 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 completion of the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of the 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 transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,393,810. The disclosure for this sale can be found here. Insiders have sold a total of 11,152 shares of company stock worth $1,211,920 in the last three months. 0.31% of the stock is owned by company insiders.

Veralto 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.