Yousif Capital Management LLC Buys 7,992 Shares of Veralto Co. (NYSE:VLTO)

Yousif Capital Management LLC boosted its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,754 shares of the company's stock after purchasing an additional 7,992 shares during the period. Yousif Capital Management LLC's holdings in Veralto were worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Veralto in the 4th quarter valued at about $25,000. OFI Invest Asset Management bought a new position in shares of Veralto in the 4th quarter valued at about $26,000. BankPlus Trust Department bought a new position in shares of Veralto in the 4th quarter valued at about $29,000. Lee Danner & Bass Inc. bought a new position in shares of Veralto in the 4th quarter valued at about $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Veralto in the 4th quarter valued at about $44,000. Institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

Veralto stock traded up $0.30 during midday trading on Monday, hitting $97.62. The company's stock had a trading volume of 841,128 shares, compared to its average volume of 1,446,314. 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 company has a 50-day moving average price of $96.36 and a two-hundred day moving average price of $98.93. The company has a market cap of $24.20 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The business's revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

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 paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio (DPR) is 12.57%.

Insiders Place Their Bets

In other Veralto news, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president now directly owns 13,571 shares of the company's stock, valued at $1,368,499.64. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the completion of the transaction, the chief executive officer now directly owns 116,637 shares in the company, valued at approximately $11,495,742.72. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,917 shares of company stock worth $5,423,033 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of analyst reports. Citigroup decreased their price objective 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 lifted their price objective 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. Robert W. Baird raised their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Northcoast Research initiated coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 target price for the company. Finally, Royal Bank of Canada raised 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $110.09.

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.