Citizens Financial Group Inc. RI Invests $237,000 in Veralto Co. (NYSE:VLTO)

Citizens Financial Group Inc. RI bought a new stake in Veralto Co. (NYSE:VLTO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,481 shares of the company’s stock, valued at approximately $237,000.

Several other institutional investors have also recently added to or reduced their stakes in VLTO. Vanguard Group Inc. acquired a new position in Veralto in the fourth quarter valued at $2,127,330,000. Capital International Investors purchased a new stake in Veralto during the fourth quarter valued at about $538,324,000. Swedbank AB purchased a new stake in Veralto during the first quarter valued at about $237,864,000. Northern Trust Corp grew its position in Veralto by 33,575.5% during the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock valued at $207,318,000 after acquiring an additional 2,512,791 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Veralto during the fourth quarter valued at about $178,006,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of the 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 owns 12,671 shares in the company, valued at $1,393,810. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is currently owned by company insiders.

Veralto Trading Up 1.3 %

Shares of NYSE VLTO opened at $109.49 on Friday. The stock’s 50 day moving average price is $106.70 and its two-hundred day moving average price is $98.58. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $112.77. The stock has a market capitalization of $27.06 billion and a P/E ratio of 33.22. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last announced its quarterly earnings data 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. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VLTO. Deutsche Bank Aktiengesellschaft boosted their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price target on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Robert W. Baird upped their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, TD Cowen upped their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven investment 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 price target of $104.46.

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.