Louisiana State Employees Retirement System Sells 400 Shares of Veralto Co. (NYSE:VLTO)

Louisiana State Employees Retirement System reduced its position in shares of Veralto Co. (NYSE:VLTO) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,400 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Veralto were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after purchasing an additional 1,568,103 shares during the last quarter. Capital International Investors boosted its holdings in Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after buying an additional 553,021 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Veralto during the 4th quarter worth about $528,018,000. Bank of New York Mellon Corp increased its stake in shares of Veralto by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock valued at $352,700,000 after acquiring an additional 617,441 shares during the last quarter. Finally, Norges Bank bought a new position in Veralto during the 4th quarter worth approximately $266,143,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction 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 directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,152 shares of company stock valued at $1,211,920. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped 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. Stifel Nicolaus raised their price objective on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group assumed coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Price Performance

Shares of VLTO opened at $111.03 on Tuesday. 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 Co. has a twelve month low of $65.51 and a twelve month high of $112.22. The stock has a market capitalization of $27.41 billion and a P/E ratio of 33.48. The company has a 50 day moving average of $102.09 and a 200-day moving average of $95.65.

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

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.