Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Veralto Co. (NYSE:VLTO)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Veralto Co. (NYSE:VLTO) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,353 shares of the company’s stock after selling 513 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Veralto were worth $1,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Veralto by 6.1% during 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 period. Capital International Investors raised its position in shares of Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after acquiring an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Veralto by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after buying an additional 200,657 shares during the last quarter. Swedbank AB lifted its holdings in shares of Veralto by 4.9% in the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after purchasing an additional 132,105 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Veralto by 33,575.5% in the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock valued at $207,318,000 after buying an additional 2,512,791 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The shares were 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 directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,039 shares of company stock valued at $4,310,335 in the last quarter. Insiders own 0.31% of the company’s stock.

Veralto Trading Up 0.6 %

VLTO opened at $112.02 on Friday. Veralto Co. has a twelve month low of $65.51 and a twelve month 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 company has a fifty day moving average of $109.21 and a 200-day moving average of $100.31. The stock has a market cap of $27.65 billion and a PE ratio of 33.24.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, sell-side analysts predict that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.32%.

Analysts Set New Price Targets

VLTO has been the topic of several research analyst reports. TD Cowen boosted their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price objective on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Robert W. Baird boosted their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased 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. Finally, UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $105.67.

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.