YHB Investment Advisors Inc. Sells 515 Shares of Veralto Corporation (NYSE:VLTO)

YHB Investment Advisors Inc. cut its position in Veralto Corporation (NYSE:VLTO) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,753 shares of the company’s stock after selling 515 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Veralto were worth $1,730,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Veralto in the fourth quarter valued at $25,000. OFI Invest Asset Management purchased a new position in shares of Veralto in the fourth quarter valued at $26,000. BankPlus Trust Department purchased a new position in Veralto during the fourth quarter worth about $29,000. Lee Danner & Bass Inc. purchased a new position in Veralto during the fourth quarter worth about $43,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Veralto during the fourth quarter worth about $44,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 1.8%

NYSE VLTO opened at $98.45 on Tuesday. Veralto Corporation has a 1-year low of $83.87 and a 1-year high of $115.00. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average of $97.06 and a 200-day moving average of $98.60. The firm has a market cap of $24.40 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 4.16 and a beta of 0.97.

Veralto (NYSE:VLTO) last released its earnings results 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. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $0.84 EPS. Veralto’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Veralto Corporation will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s dividend payout ratio (DPR) is 12.57%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VLTO shares. Stifel Nicolaus boosted their target price on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Citigroup reduced their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 target price for the company. Robert W. Baird boosted their target price on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada lifted their price target on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research note 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.09.

Insiders Place Their Bets

In related news, SVP Melissa Aquino sold 31,689 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was 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 $1,633,042.78. This represents a 64.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the sale, the senior vice president now owns 13,571 shares in the company, valued at $1,368,499.64. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,503 shares of company stock worth $4,396,629. Company insiders own 0.36% of the company’s stock.

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.