King Luther Capital Management Corp Grows Position in Veralto Co. (NYSE:VLTO)

King Luther Capital Management Corp increased its holdings in Veralto Co. (NYSE:VLTO) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 465,049 shares of the company’s stock after acquiring an additional 427 shares during the quarter. King Luther Capital Management Corp owned about 0.19% of Veralto worth $52,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd boosted its position in Veralto by 410.6% in the first quarter. UniSuper Management Pty Ltd now owns 13,179 shares of the company’s stock worth $1,168,000 after purchasing an additional 10,598 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in Veralto during the 1st quarter valued at approximately $228,000. Natixis bought a new stake in Veralto during the 1st quarter valued at approximately $192,000. CreativeOne Wealth LLC bought a new stake in Veralto during the 1st quarter valued at approximately $270,000. Finally, Capital Group Investment Management PTE. LTD. raised its stake in Veralto by 25.9% during the 1st quarter. Capital Group Investment Management PTE. LTD. now owns 5,953 shares of the company’s stock valued at $528,000 after purchasing an additional 1,225 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of VLTO stock opened at $105.11 on Thursday. Veralto Co. has a 1-year low of $70.47 and a 1-year high of $115.00. The stock’s 50-day moving average is $108.32 and its 200 day moving average is $104.32. The company has a market cap of $25.99 billion and a P/E ratio of 32.44. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s payout ratio is 11.11%.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,639 shares of company stock worth $3,175,803 over the last three months. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

VLTO has been the topic of several recent research reports. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. The Goldman Sachs Group increased their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen increased their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird increased their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets increased their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and an average target price of $108.27.

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.