Mutual of America Capital Management LLC Sells 781 Shares of Veralto Co. (NYSE:VLTO)

Mutual of America Capital Management LLC lowered its holdings in Veralto Co. (NYSE:VLTO) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,397 shares of the company’s stock after selling 781 shares during the period. Mutual of America Capital Management LLC’s holdings in Veralto were worth $5,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC bought a new stake in shares of Veralto during the 4th quarter worth approximately $3,202,000. Daiwa Securities Group Inc. grew its position in shares of Veralto by 78.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after acquiring an additional 35,433 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Veralto during the 4th quarter worth about $79,075,000. Wells Fargo & Company MN acquired a new position in shares of Veralto during the 4th quarter worth about $25,633,000. Finally, Nomura Holdings Inc. acquired a new stake in Veralto in the 4th quarter valued at about $717,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of Veralto stock opened at $109.47 on Friday. The company has a 50-day simple moving average of $106.91 and a two-hundred day simple moving average of $98.74. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $112.77. The stock has a market capitalization of $27.05 billion and a price-to-earnings 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 released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. Analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VLTO shares. Deutsche Bank Aktiengesellschaft boosted their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada increased their price target on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted 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. Stifel Nicolaus increased their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction of $83,658.30. Following the sale, the senior vice president now directly owns 11,918 shares in the company, valued at $1,324,089.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 in the company, valued at $1,324,089.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is currently 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.