Veralto Co. (NYSE:VLTO) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Veralto Co. (NYSE:VLTO) by 13.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 204,366 shares of the company’s stock after selling 32,575 shares during the period. New York State Teachers Retirement System’s holdings in Veralto were worth $19,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Arcus Capital Partners LLC purchased a new stake in Veralto in the second quarter valued at approximately $769,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Veralto in the 2nd quarter valued at about $272,000. Kirr Marbach & Co. LLC IN increased its position in Veralto by 0.9% during the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 79,335 shares of the company’s stock worth $7,581,000 after purchasing an additional 730 shares in the last quarter. Baker Chad R lifted its position in Veralto by 29.7% during the second quarter. Baker Chad R now owns 87,017 shares of the company’s stock valued at $8,308,000 after buying an additional 19,905 shares in the last quarter. Finally, Hall Laurie J Trustee increased its holdings in Veralto by 35.0% during the 2nd quarter. Hall Laurie J Trustee now owns 13,871 shares of the company’s stock worth $1,325,000 after purchasing an additional 3,596 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Stock Performance

Shares of VLTO stock traded up $0.95 on Friday, reaching $111.78. The stock had a trading volume of 378,087 shares, compared to its average volume of 1,542,483. The firm’s 50-day moving average is $101.66 and its two-hundred day moving average is $94.98. The firm has a market capitalization of $27.59 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. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $112.15.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. The company had revenue of $1.29 billion for 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%. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. On average, research analysts expect that Veralto Co. will post 3.45 EPS for the current fiscal year.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Mattias Bystrom sold 3,000 shares of the business’s 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 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 filing with the SEC, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada raised 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 target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. UBS Group started coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Finally, TD Cowen upped their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently 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.