American Century Companies Inc. Boosts Stake in Veralto Co. (NYSE:VLTO)

American Century Companies Inc. increased its stake in Veralto Co. (NYSE:VLTO) by 7.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 444,896 shares of the company’s stock after acquiring an additional 30,021 shares during the period. American Century Companies Inc.’s holdings in Veralto were worth $42,474,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of Veralto during the first quarter worth approximately $30,000. Delta Asset Management LLC TN raised its position in Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after purchasing an additional 216 shares during the period. Johnson Financial Group Inc. bought a new stake in Veralto in the fourth quarter worth $27,000. Hazlett Burt & Watson Inc. boosted its position in Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the period. Finally, Cassady Schiller Wealth Management LLC bought a new position in shares of Veralto during the fourth quarter valued at about $30,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO opened at $109.94 on Tuesday. The firm has a market cap of $27.17 billion and a PE ratio of 29.55. The stock has a 50-day moving average price of $105.94 and a 200-day moving average price of $98.28. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $112.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 company earned $0.80 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VLTO has been the topic of several recent research reports. Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted 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. 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. UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.46.

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’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 transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $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. 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.