PGGM Investments Takes $1.53 Million Position in Veralto Co. (NYSE:VLTO)

PGGM Investments bought a new position in shares of Veralto Co. (NYSE:VLTO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,007 shares of the company’s stock, valued at approximately $1,528,000.

A number of other hedge funds have also recently added to or reduced their stakes in VLTO. Global Retirement Partners LLC lifted its stake in shares of Veralto by 3.2% in the 1st quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock valued at $352,000 after purchasing an additional 123 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Veralto by 2.7% during the second quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock worth $516,000 after buying an additional 142 shares during the period. Perkins Coie Trust Co increased its position in shares of Veralto by 2.2% in the second quarter. Perkins Coie Trust Co now owns 7,128 shares of the company’s stock worth $680,000 after acquiring an additional 151 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Veralto by 5.0% in the second quarter. Valeo Financial Advisors LLC now owns 3,533 shares of the company’s stock worth $337,000 after acquiring an additional 168 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of Veralto by 42.9% in the 2nd quarter. Mather Group LLC. now owns 570 shares of the company’s stock valued at $51,000 after acquiring an additional 171 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Performance

NYSE:VLTO traded up $0.42 during mid-day trading on Wednesday, hitting $108.51. The stock had a trading volume of 771,617 shares, compared to its average volume of 1,568,629. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $108.89. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $26.81 billion and a price-to-earnings ratio of 32.05. The company has a 50 day simple moving average of $100.52 and a 200-day simple moving average of $93.75.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts expect that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.09 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were 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 approximately $3,287,355.05. The disclosure for this sale can be found here. Insiders sold 4,055 shares of company stock worth $428,345 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Robert W. Baird raised their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. TD Cowen lifted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, UBS Group assumed coverage on shares of Veralto in a research report on Tuesday. They issued a “neutral” rating and a $118.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.