Veralto Corporation (NYSE:VLTO) Stock Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Veralto Corporation (NYSE:VLTO - Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,357 shares of the company's stock after acquiring an additional 7,310 shares during the period. Victory Capital Management Inc.'s holdings in Veralto were worth $9,390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Veralto during the fourth quarter valued at $25,000. Murphy & Mullick Capital Management Corp purchased a new stake in Veralto during the 4th quarter valued at $44,000. Opal Wealth Advisors LLC purchased a new stake in Veralto in the 1st quarter worth approximately $45,000. Grove Bank & Trust lifted its stake in Veralto by 198.2% in the first quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after acquiring an additional 339 shares during the period. Finally, Global Financial Private Client LLC lifted its stake in Veralto by 95.1% in the first quarter. Global Financial Private Client LLC now owns 593 shares of the company's stock worth $58,000 after acquiring an additional 289 shares during the period. Institutional investors own 91.28% of the company's stock.

Wall Street Analyst Weigh In

VLTO has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a report on Monday. Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Citigroup lowered 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. Robert W. Baird lifted their target price on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada lifted their target price on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $111.18.

Veralto Trading Up 0.1%

Shares of Veralto stock traded up $0.11 during mid-day trading on Friday, hitting $103.38. The stock had a trading volume of 1,019,417 shares, compared to its average volume of 1,107,320. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14. The firm has a market cap of $25.62 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 4.13 and a beta of 0.91. The firm has a 50-day moving average of $100.78 and a two-hundred day moving average of $98.49. Veralto Corporation has a 12-month low of $83.86 and a 12-month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Sell-side analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently disclosed 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. This represents a $0.44 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's payout ratio is 12.57%.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,418 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total value of $989,710.00. Following the completion of the sale, the chief executive officer directly owned 106,219 shares in the company, valued at approximately $10,090,805. The trade was a 8.93% 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. Also, SVP Mattias Bystrom sold 2,500 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $99.96, for a total value of $249,900.00. Following the sale, the senior vice president directly owned 32,430 shares of the company's stock, valued at approximately $3,241,702.80. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,913 shares of company stock worth $4,339,370. Insiders own 0.36% of the company's stock.

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.