Veralto Co. (NYSE:VLTO) Shares Bought by Garrison Point Advisors LLC

Garrison Point Advisors LLC grew its holdings in shares of Veralto Co. (NYSE:VLTO) by 14.8% during the second quarter, Holdings Channel.com reports. The firm owned 6,304 shares of the company’s stock after buying an additional 815 shares during the quarter. Garrison Point Advisors LLC’s holdings in Veralto were worth $602,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of VLTO. Victory Capital Management Inc. acquired a new position in shares of Veralto during the 4th quarter valued at $6,062,000. Private Advisor Group LLC acquired a new position in Veralto during the fourth quarter worth about $1,084,000. Concourse Financial Group Securities Inc. bought a new stake in Veralto in the fourth quarter worth about $43,000. Principal Securities Inc. acquired a new stake in Veralto in the 4th quarter valued at about $167,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Veralto during the 4th quarter valued at about $1,563,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 0.2 %

Shares of NYSE VLTO opened at $109.72 on Wednesday. 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 one year low of $65.51 and a one year high of $112.77. The business has a 50-day moving average price of $104.82 and a two-hundred day moving average price of $97.65. The firm has a market capitalization of $27.11 billion and a PE ratio of 32.85.

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

Analysts Set New Price Targets

A number of research firms recently commented on VLTO. The Goldman Sachs Group increased their target price 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. TD Cowen upped their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.46.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the sale, the senior vice president now directly owns 11,918 shares in the company, valued at $1,324,089.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Mattias Bystrom sold 3,000 shares of Veralto 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 completion of the sale, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the transaction, the senior vice president now owns 11,918 shares in the company, valued at approximately $1,324,089.80. The disclosure for this sale can be found here. Insiders have sold a total of 25,096 shares of company stock worth $2,772,707 in the last ninety days. Corporate 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.