State of New Jersey Common Pension Fund D Trims Position in Veralto Corporation $VLTO

State of New Jersey Common Pension Fund D lowered its holdings in shares of Veralto Corporation (NYSE:VLTO) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,463 shares of the company’s stock after selling 6,331 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Veralto were worth $7,939,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VLTO. Brighton Jones LLC grew its holdings in shares of Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company’s stock valued at $352,000 after purchasing an additional 479 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Veralto by 4.3% during the 4th quarter. CreativeOne Wealth LLC now owns 4,219 shares of the company’s stock valued at $430,000 after buying an additional 173 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Veralto by 10.2% in the 4th quarter. NewEdge Advisors LLC now owns 4,802 shares of the company’s stock valued at $489,000 after acquiring an additional 443 shares during the last quarter. First Trust Advisors LP grew its position in Veralto by 222.3% in the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company’s stock worth $265,054,000 after acquiring an additional 1,794,992 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Veralto by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 865,943 shares of the company’s stock worth $88,197,000 after acquiring an additional 153,814 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 target price on the stock. Wolfe Research raised shares of Veralto from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their target price on shares of Veralto from $104.00 to $108.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird upped their price target on shares of Veralto from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.43.

Insider Buying and Selling

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

Veralto Trading Down 0.5%

Shares of Veralto stock opened at $107.14 on Monday. The stock has a market cap of $26.59 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 3.53 and a beta of 0.91. The firm has a fifty day moving average price of $102.60 and a 200 day moving average price of $98.87. Veralto Corporation has a 1 year low of $83.86 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.32 and a quick ratio of 2.06.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company earned $0.85 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Veralto Corporation will post 3.66 earnings per share for the current 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.