Panagora Asset Management Inc. Increases Stake in Veralto Co. (NYSE:VLTO)

Panagora Asset Management Inc. increased its holdings in Veralto Co. (NYSE:VLTO) by 24.7% in the second quarter, Holdings Channel reports. The fund owned 3,461 shares of the company’s stock after purchasing an additional 686 shares during the quarter. Panagora Asset Management Inc.’s holdings in Veralto were worth $330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Delta Asset Management LLC TN raised its holdings in shares of Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Veralto in the fourth quarter worth approximately $27,000. Cassady Schiller Wealth Management LLC purchased a new stake in Veralto during the fourth quarter worth $30,000. LRI Investments LLC bought a new stake in Veralto during the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Veralto in the 4th quarter valued at $32,000. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VLTO. Deutsche Bank Aktiengesellschaft upped their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Stifel Nicolaus boosted their price objective 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. Finally, TD Cowen raised their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Trading Down 1.9 %

Shares of Veralto stock opened at $110.32 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 simple moving average is $103.47 and its two-hundred day simple moving average is $96.81. 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 firm has a market capitalization of $27.23 billion and a price-to-earnings ratio of 33.78.

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

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value 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 $3,287,355.05. The disclosure for this sale can be found here. Insiders sold a total of 24,343 shares of company stock worth $2,689,048 in the last three months. Company insiders own 0.31% of the company’s stock.

Veralto Company 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.