Quantbot Technologies LP Sells 5,444 Shares of Veralto Co. (NYSE:VLTO)

Quantbot Technologies LP lowered its position in shares of Veralto Co. (NYSE:VLTO) by 6.0% in the second quarter, HoldingsChannel reports. The firm owned 84,543 shares of the company’s stock after selling 5,444 shares during the period. Quantbot Technologies LP’s holdings in Veralto were worth $8,071,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after buying an additional 1,568,103 shares in the last quarter. Capital International Investors raised its position in Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after purchasing an additional 553,021 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Veralto by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after purchasing an additional 200,657 shares in the last quarter. Norges Bank bought a new stake in shares of Veralto during the fourth quarter worth $266,143,000. Finally, Swedbank AB grew its holdings in shares of Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after purchasing an additional 132,105 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Trading Up 0.7 %

NYSE:VLTO opened at $110.02 on Monday. 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 1-year low of $65.51 and a 1-year high of $112.77. The firm has a market capitalization of $27.19 billion and a price-to-earnings ratio of 33.02. The business’s 50-day moving average price is $105.66 and its two-hundred day moving average price is $98.12.

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 the consensus estimate of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. On average, equities analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

Insider Activity

In related news, SVP Mattias Bystrom sold 3,000 shares of the firm’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 sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on 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 directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, 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. Insiders sold 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.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their price target on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. Robert W. Baird boosted 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 initiated coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. The Goldman Sachs Group boosted their price objective 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, TD Cowen increased their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.