Renaissance Technologies LLC Acquires 190,500 Shares of Veralto Co. (NYSE:VLTO)

Renaissance Technologies LLC grew its holdings in shares of Veralto Co. (NYSE:VLTO) by 22.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,031,200 shares of the company’s stock after buying an additional 190,500 shares during the period. Renaissance Technologies LLC’s holdings in Veralto were worth $98,449,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of VLTO. Vanguard Group Inc. bought a new position in shares of Veralto during the 4th quarter worth approximately $2,127,330,000. Capital International Investors acquired a new position in shares of Veralto during the fourth quarter worth approximately $538,324,000. Norges Bank acquired a new position in shares of Veralto during the fourth quarter worth approximately $266,143,000. Swedbank AB acquired a new position in shares of Veralto during the first quarter worth approximately $237,864,000. Finally, Northern Trust Corp raised its position in shares of Veralto by 33,575.5% during the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock worth $207,318,000 after purchasing an additional 2,512,791 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Down 0.1 %

Shares of Veralto stock opened at $109.94 on Tuesday. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $112.77. The firm has a market cap of $27.17 billion and a PE ratio of 29.55. The stock has a fifty day moving average price of $105.94 and a 200-day moving average price of $98.28. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $0.80 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Veralto Co. will post 3.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VLTO. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus upped their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their target price on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Robert W. Baird increased their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.46.

Insider Activity

In other news, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Mattias Bystrom sold 3,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The disclosure for this sale can be found here. Insiders sold a total of 25,096 shares of company stock valued at $2,772,707 in the last ninety days. 0.31% of the stock is currently 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.