Public Employees Retirement Association of Colorado Lowers Stock Holdings in Veralto Co. (NYSE:VLTO)

Public Employees Retirement Association of Colorado cut its holdings in Veralto Co. (NYSE:VLTO) by 6.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,825 shares of the company’s stock after selling 1,609 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Veralto were worth $2,201,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Veralto in the 4th quarter worth $729,000. Pacer Advisors Inc. purchased a new stake in shares of Veralto during the fourth quarter worth about $1,362,000. Assenagon Asset Management S.A. purchased a new stake in shares of Veralto during the fourth quarter worth about $965,000. Blue Trust Inc. acquired a new position in shares of Veralto during the 4th quarter worth about $26,000. Finally, Global Retirement Partners LLC lifted its stake in Veralto by 63.6% in the 4th quarter. Global Retirement Partners LLC now owns 3,843 shares of the company’s stock valued at $316,000 after buying an additional 1,494 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. TD Cowen started coverage on Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 price objective for the company. BMO Capital Markets boosted their price target on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday. Robert W. Baird lifted their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Stifel Nicolaus upped their target price on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and an average target price of $102.92.

Veralto Trading Up 0.2 %

Shares of VLTO opened at $105.10 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $99.12 and a 200 day moving average price of $91.40. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $107.86. The firm has a market capitalization of $25.94 billion and a P/E ratio of 31.68.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 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 62.93%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company earned $0.80 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts forecast that Veralto Co. will post 3.43 EPS for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, June 28th.

Insider Activity

In related news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

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.