Ballentine Partners LLC Purchases 212 Shares of Veralto Co. (NYSE:VLTO)

Ballentine Partners LLC raised its position in Veralto Co. (NYSE:VLTO) by 5.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,379 shares of the company’s stock after acquiring an additional 212 shares during the quarter. Ballentine Partners LLC’s holdings in Veralto were worth $418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC purchased a new position in shares of Veralto in the fourth quarter worth approximately $3,202,000. Daiwa Securities Group Inc. grew its position in shares of Veralto by 78.3% during 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 purchased a new stake in shares of Veralto in the 4th quarter worth $79,075,000. Wells Fargo & Company MN bought a new position in Veralto in the 4th quarter worth $25,633,000. Finally, Nomura Holdings Inc. purchased a new position in Veralto during the fourth quarter valued at $717,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Up 0.2 %

VLTO opened at $109.72 on Wednesday. Veralto Co. has a 52 week low of $65.51 and a 52 week 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 firm has a 50-day simple moving average of $104.82 and a two-hundred day simple moving average of $97.65. The company has a market capitalization of $27.11 billion and a PE ratio of 32.85.

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 the consensus estimate of $0.80 by $0.05. The business had revenue of $1.29 billion during 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%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. Analysts forecast that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. TD Cowen upped their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Stifel Nicolaus raised their target price on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Robert W. Baird lifted their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Veralto currently has an average rating of “Moderate Buy” and an average price target of $104.46.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The shares were 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 owns 138,546 shares in the company, valued at $15,514,381.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. The sale was disclosed in a document filed 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 shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,096 shares of company stock worth $2,772,707. Insiders own 0.31% of the company’s stock.

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.