Quantbot Technologies LP Purchases 87,305 Shares of Veralto Corporation $VLTO

Quantbot Technologies LP increased its holdings in shares of Veralto Corporation (NYSE:VLTO) by 142.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,639 shares of the company’s stock after buying an additional 87,305 shares during the quarter. Veralto accounts for about 0.5% of Quantbot Technologies LP’s portfolio, making the stock its 23rd largest position. Quantbot Technologies LP owned approximately 0.06% of Veralto worth $14,485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VLTO. Bernard Wealth Management Corp. purchased a new position in shares of Veralto in the fourth quarter worth $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Veralto in the first quarter worth $45,000. Grove Bank & Trust raised its holdings in shares of Veralto by 198.2% in the first quarter. Grove Bank & Trust now owns 510 shares of the company’s stock worth $50,000 after buying an additional 339 shares during the last quarter. Global Financial Private Client LLC raised its holdings in shares of Veralto by 95.1% in the first quarter. Global Financial Private Client LLC now owns 593 shares of the company’s stock worth $58,000 after buying an additional 289 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in shares of Veralto in the fourth quarter worth $60,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $100.55, for a total value of $85,266.40. Following the transaction, the senior vice president directly owned 8,433 shares in the company, valued at $847,938.15. The trade was a 9.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on VLTO shares. Northcoast Research started coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price target for the company. Robert W. Baird raised their price target on shares of Veralto from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Royal Bank Of Canada raised their target price on shares of Veralto from $104.00 to $108.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 target price on shares of Veralto and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Wolfe Research raised Veralto from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Veralto has an average rating of “Moderate Buy” and a consensus price target of $113.43.

Veralto Price Performance

NYSE:VLTO opened at $107.14 on Monday. Veralto Corporation has a 12 month low of $83.86 and a 12 month high of $115.00. The stock has a 50 day moving average of $102.60 and a two-hundred day moving average of $98.87. The company has a current ratio of 2.32, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. The firm has a market cap of $26.59 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 3.53 and a beta of 0.91.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. Veralto’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share. On average, analysts expect that Veralto Corporation will post 3.66 earnings per share for the current fiscal year.

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.