Massachusetts Financial Services Co. MA Has $180.66 Million Stake in Veralto Co. (NYSE:VLTO)

Massachusetts Financial Services Co. MA reduced its stake in Veralto Co. (NYSE:VLTO) by 2.3% during the second quarter, HoldingsChannel reports. The firm owned 1,892,319 shares of the company’s stock after selling 43,818 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Veralto were worth $180,660,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in Veralto in the fourth quarter valued at approximately $79,075,000. Avantax Advisory Services Inc. acquired a new stake in shares of Veralto during the 4th quarter valued at $385,000. Janney Montgomery Scott LLC bought a new stake in Veralto during the 4th quarter worth $2,573,000. Quadrant Capital Group LLC acquired a new position in Veralto in the 4th quarter worth about $178,000. Finally, Beacon Pointe Advisors LLC bought a new position in Veralto in the fourth quarter valued at about $514,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,096 shares of company stock worth $2,772,707. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada upped their price target on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Robert W. Baird increased their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, TD Cowen upped their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Trading Down 0.9 %

NYSE VLTO opened at $108.94 on Wednesday. The stock has a market capitalization of $26.89 billion and a P/E ratio of 29.28. The business has a 50 day simple moving average of $106.21 and a 200 day simple moving average of $98.44. 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 one year low of $65.51 and a one year high of $112.77.

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

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.