Toth Financial Advisory Corp Trims Stock Position in Veralto Co. (NYSE:VLTO)

Toth Financial Advisory Corp lowered its position in shares of Veralto Co. (NYSE:VLTO) by 26.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 834 shares of the company’s stock after selling 305 shares during the period. Toth Financial Advisory Corp’s holdings in Veralto were worth $74,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Corundum Group Inc. purchased a new position in Veralto in the 1st quarter worth approximately $223,000. Brookstone Capital Management lifted its holdings in shares of Veralto by 36.4% in the 1st quarter. Brookstone Capital Management now owns 3,559 shares of the company’s stock worth $316,000 after acquiring an additional 949 shares during the last quarter. Factory Mutual Insurance Co. lifted its holdings in shares of Veralto by 27.4% in the 1st quarter. Factory Mutual Insurance Co. now owns 143,365 shares of the company’s stock worth $12,711,000 after acquiring an additional 30,800 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in shares of Veralto by 2.7% in the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock worth $618,000 after acquiring an additional 185 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Veralto in the 1st quarter worth approximately $1,071,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO traded down $2.05 during trading on Friday, hitting $95.47. The company’s stock had a trading volume of 9,333,707 shares, compared to its average volume of 1,442,760. The company has a 50-day moving average of $98.09 and a 200-day moving average of $88.56. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $102.58. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Veralto Co. will post 3.37 earnings per share for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, June 28th.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price target on shares of Veralto in a report on Friday, June 14th. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price target on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Robert W. Baird upped their price target on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets upped their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Veralto news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.