Cubist Systematic Strategies LLC Sells 190,105 Shares of Veralto Co. (NYSE:VLTO)

Cubist Systematic Strategies LLC cut its holdings in Veralto Co. (NYSE:VLTO) by 94.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,769 shares of the company’s stock after selling 190,105 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Veralto were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its stake in Veralto by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after acquiring an additional 100 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Veralto by 2.7% in the second quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock valued at $516,000 after acquiring an additional 142 shares during the last quarter. Perkins Coie Trust Co boosted its stake in Veralto by 2.2% in the second quarter. Perkins Coie Trust Co now owns 7,128 shares of the company’s stock valued at $680,000 after acquiring an additional 151 shares during the last quarter. Graypoint LLC boosted its position in shares of Veralto by 3.8% during the second quarter. Graypoint LLC now owns 4,407 shares of the company’s stock worth $421,000 after purchasing an additional 160 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of Veralto by 5.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,533 shares of the company’s stock worth $337,000 after purchasing an additional 168 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VLTO. Stifel Nicolaus lifted their price target on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets lifted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada lifted their price target on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.85.

Insider Buying and Selling at Veralto

In other Veralto 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 sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated 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 owns 31,045 shares in the company, valued at $3,287,355.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,039 shares of company stock worth $4,310,335. Insiders own 0.31% of the company’s stock.

Veralto Trading Up 1.1 %

VLTO opened at $111.27 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.77. The firm’s fifty day simple moving average is $108.83 and its 200 day simple moving average is $100.06. The stock has a market capitalization of $27.47 billion and a P/E ratio of 33.62.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.32%.

Veralto 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.