XTX Topco Ltd Cuts Stock Holdings in Veralto Co. (NYSE:VLTO)

XTX Topco Ltd decreased its stake in shares of Veralto Co. (NYSE:VLTO) by 6.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,969 shares of the company’s stock after selling 716 shares during the period. XTX Topco Ltd’s holdings in Veralto were worth $1,047,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Orion Portfolio Solutions LLC purchased a new position in shares of Veralto during the fourth quarter valued at approximately $3,202,000. Daiwa Securities Group Inc. boosted its position in shares of Veralto by 78.3% during the first quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after buying an additional 35,433 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Veralto during the fourth quarter valued at approximately $79,075,000. Wells Fargo & Company MN purchased a new position in shares of Veralto during the fourth quarter valued at approximately $25,633,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $717,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VLTO shares. TD Cowen boosted their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted 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. 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. Stifel Nicolaus boosted their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” 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 company. According to data from MarketBeat.com, Veralto has an average rating of “Moderate Buy” and an average price target of $104.46.

Veralto Stock Performance

NYSE:VLTO opened at $109.47 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $112.77. The firm has a market cap of $27.05 billion and a price-to-earnings ratio of 33.22. The business’s fifty day moving average is $106.91 and its 200 day moving average is $98.81.

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

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’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 sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Veralto 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 transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value 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 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 owned by company insiders.

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.