Veralto Co. (NYSE:VLTO) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its holdings in Veralto Co. (NYSE:VLTO) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,399 shares of the company’s stock after selling 1,400 shares during the period. Cornerstone Advisors LLC’s holdings in Veralto were worth $1,279,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Veralto in the fourth quarter valued at $2,127,330,000. Capital International Investors purchased a new position in shares of Veralto in the fourth quarter valued at $538,324,000. Norges Bank purchased a new position in shares of Veralto in the fourth quarter valued at $266,143,000. Swedbank AB purchased a new position in shares of Veralto in the first quarter valued at $237,864,000. Finally, Northern Trust Corp boosted its stake in shares of Veralto by 33,575.5% in the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock valued at $207,318,000 after purchasing an additional 2,512,791 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the subject of several analyst reports. TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Robert W. Baird increased their price objective 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. UBS Group assumed coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. The Goldman Sachs Group increased their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada increased their price objective on shares of Veralto from $101.00 to $108.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat.com, Veralto presently has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Veralto Trading Down 0.1 %

Veralto stock opened at $109.94 on Tuesday. The firm’s 50-day moving average is $105.94 and its 200-day moving average is $98.28. 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 1 year low of $65.51 and a 1 year high of $112.77. The company has a market cap of $27.17 billion and a P/E ratio of 29.55.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping 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 business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $15,514,381.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $15,514,381.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. The disclosure for this sale can be found here. Insiders have sold a total of 25,096 shares of company stock valued at $2,772,707 in the last quarter. Company insiders own 0.31% of the company’s stock.

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.