Toronto Dominion Bank Raises Stock Holdings in Veralto Co. (NYSE:VLTO)

Toronto Dominion Bank grew its stake in Veralto Co. (NYSE:VLTO - Free Report) by 223.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 400,225 shares of the company's stock after purchasing an additional 276,666 shares during the quarter. Toronto Dominion Bank owned approximately 0.16% of Veralto worth $40,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in Veralto in the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in shares of Veralto in the fourth quarter worth approximately $26,000. BankPlus Trust Department purchased a new stake in shares of Veralto during the fourth quarter worth approximately $29,000. Albion Financial Group UT raised its stake in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after purchasing an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in Veralto in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 590 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares of the company's stock, valued at approximately $849,964.50. This represents a 6.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president now owns 13,571 shares in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,073 shares of company stock worth $6,442,018 over the last 90 days. Corporate insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of several research reports. Northcoast Research began coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Robert W. Baird increased their price target on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their price target on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Citigroup lowered their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Veralto currently has an average rating of "Hold" and a consensus target price of $110.09.

Veralto Trading Down 0.5%

Shares of VLTO stock traded down $0.49 on Friday, hitting $100.49. The stock had a trading volume of 253,176 shares, compared to its average volume of 1,474,779. The company's 50 day moving average price is $94.76 and its 200-day moving average price is $99.66. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm has a market capitalization of $24.91 billion, a P/E ratio of 30.06, a P/E/G ratio of 4.24 and a beta of 0.99.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.44%. Veralto's dividend payout ratio is presently 12.57%.

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.