Envestnet Asset Management Inc. Buys 3,888 Shares of Veralto Co. (NYSE:VLTO)

Envestnet Asset Management Inc. lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 701,764 shares of the company’s stock after acquiring an additional 3,888 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Veralto worth $66,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in VLTO. Delta Asset Management LLC TN increased its stake in 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 buying an additional 216 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at about $27,000. Cassady Schiller Wealth Management LLC bought a new stake in Veralto during the fourth quarter worth about $30,000. LRI Investments LLC acquired a new position in Veralto during the first quarter valued at approximately $30,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Veralto in the fourth quarter valued at approximately $32,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $15,514,381.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the sale, the senior vice president now owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,096 shares of company stock valued at $2,772,707. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VLTO. Royal Bank of Canada boosted their target price on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report 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 company a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus lifted 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. Deutsche Bank Aktiengesellschaft upped their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Seven equities research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Price Performance

Shares of VLTO stock opened at $108.11 on Thursday. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $112.77. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $106.45 and a 200 day simple moving average of $98.51. The company has a market cap of $26.72 billion and a P/E ratio of 33.22.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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 net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Veralto Co. will post 3.45 EPS for the current fiscal 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.