Federated Hermes Inc. Purchases 24,843 Shares of Veralto Co. (NYSE:VLTO)

Federated Hermes Inc. lifted its position in shares of Veralto Co. (NYSE:VLTO) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 666,956 shares of the company’s stock after purchasing an additional 24,843 shares during the period. Federated Hermes Inc.’s holdings in Veralto were worth $63,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VLTO. Concourse Financial Group Securities Inc. bought a new stake in shares of Veralto during the fourth quarter worth about $43,000. Principal Securities Inc. bought a new stake in Veralto in the fourth quarter valued at approximately $167,000. Teacher Retirement System of Texas bought a new stake in Veralto in the fourth quarter valued at approximately $1,563,000. QRG Capital Management Inc. bought a new stake in Veralto in the fourth quarter valued at approximately $533,000. Finally, Dimensional Fund Advisors LP bought a new stake in Veralto in the fourth quarter valued at approximately $79,075,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Price Performance

Shares of NYSE:VLTO opened at $110.02 on Friday. 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 twelve month low of $65.51 and a twelve month high of $112.77. The stock’s 50 day moving average is $105.66 and its 200-day moving average is $97.97. The firm has a market capitalization of $27.19 billion and a price-to-earnings ratio of 32.92.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Sell-side analysts forecast that Veralto Co. will post 3.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several analyst reports. Stifel Nicolaus upped their target price on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada upped their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. TD Cowen upped their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The disclosure for this sale can be found here. In the last three months, insiders sold 25,096 shares of company stock valued at $2,772,707. 0.31% of the stock is owned by insiders.

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.