Lmcg Investments LLC Cuts Holdings in Veralto Co. (NYSE:VLTO)

Lmcg Investments LLC lowered its stake in shares of Veralto Co. (NYSE:VLTO) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,368 shares of the company’s stock after selling 967 shares during the period. Lmcg Investments LLC’s holdings in Veralto were worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citizens Financial Group Inc. RI purchased a new stake in shares of Veralto during the 2nd quarter worth $237,000. Renaissance Technologies LLC raised its holdings in Veralto by 22.7% in the second quarter. Renaissance Technologies LLC now owns 1,031,200 shares of the company’s stock worth $98,449,000 after purchasing an additional 190,500 shares in the last quarter. One Capital Management LLC purchased a new stake in shares of Veralto during the second quarter valued at about $202,000. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Veralto by 50.5% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 5,986 shares of the company’s stock valued at $572,000 after buying an additional 2,009 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Veralto by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,020,225 shares of the company’s stock worth $97,414,000 after buying an additional 35,345 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’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 sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock worth $2,772,707. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE VLTO opened at $108.94 on Wednesday. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $112.77. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The firm has a market cap of $26.89 billion and a P/E ratio of 29.28. The business’s 50 day moving average price is $106.21 and its 200 day moving average price is $98.44.

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. The firm 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%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, sell-side analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on VLTO. TD Cowen increased their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada increased their price target on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

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.