Frank Rimerman Advisors LLC Raises Stake in Veralto Co. (NYSE:VLTO)

Frank Rimerman Advisors LLC increased its stake in Veralto Co. (NYSE:VLTO) by 515.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,568 shares of the company’s stock after buying an additional 3,826 shares during the period. Frank Rimerman Advisors LLC’s holdings in Veralto were worth $436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in shares of Veralto in the fourth quarter valued at about $2,127,330,000. Capital International Investors bought a new stake in shares of Veralto in the 4th quarter valued at about $538,324,000. Swedbank AB bought a new stake in shares of Veralto in the 1st quarter valued at about $237,864,000. Northern Trust Corp lifted its position in shares of Veralto by 33,575.5% in the 4th quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock worth $207,318,000 after purchasing an additional 2,512,791 shares during the period. Finally, Rudius Management LP boosted its stake in shares of Veralto by 28,658.9% during the fourth quarter. Rudius Management LP now owns 1,723,232 shares of the company’s stock valued at $141,753,000 after purchasing an additional 1,717,240 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock worth $2,772,707. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped 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. Stifel Nicolaus upped their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price 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 increased their price target 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. Finally, UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.46.

Veralto Stock Up 1.0 %

Veralto stock opened at $111.38 on Wednesday. The business’s 50-day simple moving average is $107.40 and its two-hundred day simple moving average is $99.18. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The company has a market cap of $27.52 billion and a PE ratio of 33.31. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $112.77.

Veralto (NYSE:VLTO) last announced 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 analysts’ expectations of $1.28 billion. During the same period in the previous year, the business posted $0.80 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Veralto Co. will post 3.45 EPS for the current year.

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.