TD Asset Management Inc Reduces Stake in Veralto Corporation $VLTO

Key Points

• TD Asset Management Inc reduced its stake in Veralto Corporation by 1.0% during the 2nd quarter, owning approximately $36.77 million worth of shares as per its latest SEC filing.
• Veralto announced a quarterly dividend of $0.11 per share, to be paid on October 31st, indicating a 0.4% annualized yield for shareholders.
• Several institutional investors, including Vanguard Group and T. Rowe Price, increased their holdings in Veralto, showing strong interest in the company's potential growth.

TD Asset Management Inc lowered its stake in Veralto Corporation (NYSE:VLTO - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,266 shares of the company's stock after selling 3,549 shares during the period. TD Asset Management Inc owned approximately 0.15% of Veralto worth $36,773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Veralto by 1.3% in the first quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company's stock worth $2,897,916,000 after acquiring an additional 390,285 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Veralto by 8.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,541,438 shares of the company's stock worth $1,027,264,000 after purchasing an additional 811,843 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Veralto by 28.0% in the first quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company's stock worth $607,656,000 after purchasing an additional 1,363,502 shares during the last quarter. Invesco Ltd. lifted its stake in Veralto by 6.9% in the first quarter. Invesco Ltd. now owns 4,856,071 shares of the company's stock worth $473,224,000 after purchasing an additional 314,704 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Veralto by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 4,259,348 shares of the company's stock worth $415,074,000 after purchasing an additional 509,104 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

Shares of VLTO stock opened at $101.78 on Friday. The company's 50 day moving average is $106.16 and its 200 day moving average is $101.06. The company has a quick ratio of 2.06, a current ratio of 2.32 and a debt-to-equity ratio of 1.00. Veralto Corporation has a 52-week low of $83.86 and a 52-week high of $115.00. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 3.36 and a beta of 0.90.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.34 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. Veralto has set its FY 2025 guidance at 3.720-3.800 EPS. Q3 2025 guidance at 0.910-0.950 EPS. On average, sell-side analysts anticipate that Veralto Corporation will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Veralto's payout ratio is currently 12.29%.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,646 shares of Veralto stock in a transaction on Friday, August 29th. The shares were sold at an average price of $106.26, for a total value of $1,131,243.96. Following the transaction, the chief executive officer directly owned 106,219 shares of the company's stock, valued at approximately $11,286,830.94. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VLTO. Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Robert W. Baird lifted their price target on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial initiated coverage on shares of Veralto in a report on Tuesday, August 26th. They set a "market perform" rating on the stock. Weiss Ratings raised shares of Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Veralto and gave the company a "buy" rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.43.

Veralto Company 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.

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