Kentucky Retirement Systems Lowers Position in Veralto Co. (NYSE:VLTO)

Kentucky Retirement Systems reduced its stake in Veralto Co. (NYSE:VLTO) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,555 shares of the company’s stock after selling 99 shares during the period. Kentucky Retirement Systems’ holdings in Veralto were worth $1,581,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of Veralto during the first quarter worth $30,000. Johnson Financial Group Inc. purchased a new position in Veralto during the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. grew its position 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 acquiring an additional 333 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Veralto during the fourth quarter worth about $32,000. Finally, Mather Group LLC. acquired a new stake in shares of Veralto during the first quarter worth about $33,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the sale, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto 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 transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the sale, the senior vice president now owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. 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. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of Veralto stock opened at $109.47 on Friday. 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 firm’s 50 day moving average is $106.91 and its two-hundred day moving average is $98.74. The firm has a market capitalization of $27.05 billion and a P/E ratio of 33.22.

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 firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was up 2.8% on a year-over-year basis. Research analysts forecast that Veralto Co. will post 3.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VLTO. Robert W. Baird upped their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. UBS Group began coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note 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 report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.46.

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.