Rathbones Group PLC Reduces Stake in Veralto Co. (NYSE:VLTO)

Rathbones Group PLC cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 20.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,605 shares of the company’s stock after selling 4,313 shares during the quarter. Rathbones Group PLC’s holdings in Veralto were worth $1,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Delta Asset Management LLC TN grew its holdings in Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after acquiring an additional 216 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Veralto during the 4th quarter worth approximately $27,000. Cassady Schiller Wealth Management LLC purchased a new position in shares of Veralto during the 4th quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in shares of Veralto in the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Veralto during the fourth quarter worth $32,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VLTO shares. The Goldman Sachs Group upped their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price target on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on 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 lifted 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.46.

Veralto Trading Down 0.1 %

VLTO opened at $109.94 on Tuesday. 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 company’s 50 day simple moving average is $105.94 and its two-hundred day simple moving average is $98.28. The firm has a market capitalization of $27.17 billion and a price-to-earnings ratio of 29.55. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $112.77.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (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 company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business earned $0.80 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that Veralto Co. will post 3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were 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 owns 31,045 shares in the company, valued at approximately $3,287,355.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other 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 in the company, valued at approximately $3,287,355.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. The disclosure for this sale can be found here. Insiders have sold 25,096 shares of company stock valued at $2,772,707 over the last ninety days. Company insiders own 0.31% of the company’s stock.

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.