Los Angeles Capital Management LLC Makes New Investment in Veralto Co. (NYSE:VLTO)

Los Angeles Capital Management LLC acquired a new stake in shares of Veralto Co. (NYSE:VLTO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,437 shares of the company’s stock, valued at approximately $519,000.

Several other institutional investors also recently made changes to their positions in VLTO. Orion Portfolio Solutions LLC purchased a new stake in Veralto during the fourth quarter valued at about $3,202,000. Daiwa Securities Group Inc. grew its holdings in shares of Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock worth $7,151,000 after purchasing an additional 35,433 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Veralto during the 4th quarter worth approximately $79,075,000. Wells Fargo & Company MN purchased a new position in Veralto in the fourth quarter valued at approximately $25,633,000. Finally, Nomura Holdings Inc. purchased a new position in Veralto in the fourth quarter valued at approximately $717,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Performance

Shares of VLTO opened at $110.02 on Friday. The firm has a market cap of $27.19 billion and a price-to-earnings ratio of 32.92. 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 business’s 50 day moving average is $105.66 and its two-hundred day moving average is $97.97. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $112.77.

Veralto (NYSE:VLTO) last posted its quarterly 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. 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 prior year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts forecast that Veralto Co. will post 3.45 EPS for the current fiscal year.

Insider Activity

In related 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 value of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,393,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VLTO. Stifel Nicolaus increased their price objective on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. TD Cowen raised their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their target price on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Veralto has an average rating of “Moderate Buy” and a consensus price target of $104.46.

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.