Putney Financial Group LLC Takes $60,000 Position in Veralto Co. (NYSE:VLTO)

Putney Financial Group LLC acquired a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 594 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors also recently made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in shares of Veralto by 19.9% during the 4th quarter. Mackenzie Financial Corp now owns 23,097 shares of the company’s stock valued at $2,352,000 after buying an additional 3,831 shares during the period. Toronto Dominion Bank grew its stake in shares of Veralto by 223.9% during the 4th quarter. Toronto Dominion Bank now owns 400,225 shares of the company’s stock valued at $40,762,000 after buying an additional 276,666 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Veralto by 12.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,610,965 shares of the company’s stock worth $265,927,000 after purchasing an additional 291,472 shares during the period. Williams Jones Wealth Management LLC. boosted its position in Veralto by 32.8% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 123,502 shares of the company’s stock worth $12,579,000 after purchasing an additional 30,499 shares during the period. Finally, Woodline Partners LP purchased a new stake in Veralto during the 4th quarter worth $700,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VLTO. Robert W. Baird upped their price target on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price target for the company. Citigroup decreased their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus upped their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada upped their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Veralto presently has an average rating of “Hold” and a consensus price target of $110.09.

Insider Activity

In other news, SVP Melissa Aquino sold 31,689 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the sale, the senior vice president now owns 17,434 shares in the company, valued at approximately $1,633,042.78. This represents a 64.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. This trade represents a 6.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,073 shares of company stock worth $6,442,018. 0.36% of the stock is currently owned by corporate insiders.

Veralto Stock Performance

NYSE:VLTO opened at $100.47 on Monday. 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 50-day moving average of $94.80 and a two-hundred day moving average of $99.58. The stock has a market cap of $24.90 billion, a P/E ratio of 30.08, a PEG ratio of 4.24 and a beta of 0.99. Veralto Co. has a 1-year low of $83.87 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. On average, research analysts expect that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. Veralto’s dividend payout ratio (DPR) is presently 12.57%.

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.