Public Employees Retirement System of Ohio Reduces Holdings in Veralto Co. (NYSE:VLTO)

Public Employees Retirement System of Ohio decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 5.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 104,213 shares of the company’s stock after selling 6,545 shares during the period. Public Employees Retirement System of Ohio’s holdings in Veralto were worth $9,240,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VLTO. First Command Advisory Services Inc. acquired a new stake in shares of Veralto during the fourth quarter worth about $25,000. Blue Trust Inc. purchased a new stake in shares of Veralto during the fourth quarter worth approximately $26,000. Delta Asset Management LLC TN grew its holdings in Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 216 shares in the last quarter. Dougherty Wealth Advisers LLC purchased a new stake in Veralto in the 4th quarter valued at $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Veralto in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO traded up $0.23 during trading on Monday, reaching $105.10. The company had a trading volume of 2,055,843 shares, compared to its average volume of 1,585,577. The firm has a market capitalization of $25.94 billion and a price-to-earnings ratio of 31.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The stock’s fifty day moving average price is $98.99 and its 200 day moving average price is $91.19. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $107.86.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, equities research analysts predict that Veralto Co. will post 3.43 EPS for the current year.

Veralto Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VLTO shares. BMO Capital Markets upped their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday. Robert W. Baird lifted their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup boosted their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, TD Cowen began coverage on Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 target price for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

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.