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

Toronto Dominion Bank raised its stake in Veralto Co. (NYSE:VLTO) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,559 shares of the company’s stock after buying an additional 12,350 shares during the period. Toronto Dominion Bank’s holdings in Veralto were worth $13,821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the 3rd quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the second quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in shares of Veralto in the second quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its position in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after purchasing an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Trading Down 1.5 %

Shares of VLTO stock opened at $104.22 on Friday. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00. The firm’s 50-day simple moving average is $107.18 and its 200-day simple moving average is $105.25. The firm has a market cap of $25.77 billion, a P/E ratio of 32.17, a PEG ratio of 4.35 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Veralto’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS. As a group, equities analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.35%. Veralto’s dividend payout ratio is presently 11.11%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,695 shares of company stock worth $1,615,017 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group started coverage on Veralto in a research report on Thursday. They set a “buy” rating and a $125.00 price objective for the company. Finally, Stifel Nicolaus reduced their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Veralto has an average rating of “Moderate Buy” and an average target price of $109.50.

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.