Oppenheimer Asset Management Inc. Increases Stock Holdings in Veralto Co. (NYSE:VLTO)

Oppenheimer Asset Management Inc. increased its stake in Veralto Co. (NYSE:VLTO) by 46.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,591 shares of the company’s stock after acquiring an additional 1,133 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Veralto were worth $343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new position in shares of Veralto during the fourth quarter valued at approximately $27,000. LRI Investments LLC purchased a new stake in shares of Veralto during the first quarter worth approximately $30,000. Newbridge Financial Services Group Inc. acquired a new position in Veralto in the 4th quarter valued at $32,000. Hazlett Burt & Watson Inc. raised its stake in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after purchasing an additional 333 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in Veralto in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of Veralto stock opened at $109.47 on Friday. The firm has a market cap of $27.05 billion and a PE 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 Co. has a 52 week low of $65.51 and a 52 week high of $112.77. The business’s fifty day simple moving average is $106.91 and its 200-day simple moving average is $98.81.

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

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction that occurred 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 owns 138,546 shares in the company, valued at approximately $15,514,381.08. The transaction 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 firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Robert W. Baird increased their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report 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.com, Veralto has an average rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Company 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.