Kingfisher Capital LLC Sells 263 Shares of Veralto Co. (NYSE:VLTO)

Kingfisher Capital LLC cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,707 shares of the company’s stock after selling 263 shares during the period. Kingfisher Capital LLC’s holdings in Veralto were worth $449,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of Veralto in the 4th quarter valued at $25,633,000. Cambridge Investment Research Advisors Inc. bought a new position in Veralto in the fourth quarter valued at about $1,507,000. US Bancorp DE acquired a new stake in Veralto in the fourth quarter worth about $6,354,000. Orion Portfolio Solutions LLC bought a new stake in Veralto during the 4th quarter worth about $3,202,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in Veralto during the 4th quarter valued at about $6,861,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

NYSE VLTO opened at $111.38 on Wednesday. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $112.77. The firm’s 50 day moving average is $107.40 and its 200-day moving average is $99.18. The company has a market capitalization of $27.52 billion and a PE ratio of 33.31. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last issued 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. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s 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 directly owns 11,918 shares in the company, valued at $1,324,089.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,096 shares of company stock worth $2,772,707. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Veralto from $110.00 to $117.00 and gave the stock 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 report on Monday, July 29th. Royal Bank of Canada raised their price target on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, TD Cowen increased their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.