King Luther Capital Management Corp Purchases 9,321 Shares of Veralto Co. (NYSE:VLTO)

King Luther Capital Management Corp increased its position in Veralto Co. (NYSE:VLTO) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 474,370 shares of the company’s stock after purchasing an additional 9,321 shares during the quarter. King Luther Capital Management Corp’s holdings in Veralto were worth $48,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Veralto in the third quarter worth $25,000. OFI Invest Asset Management bought a new position in Veralto in the fourth quarter worth $26,000. BankPlus Trust Department bought a new position in Veralto in the fourth quarter worth $29,000. Albion Financial Group UT lifted its position in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in shares of Veralto during the fourth quarter valued at $42,000. 91.28% of the stock is owned by institutional investors.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,467 shares of company stock worth $1,150,366. 0.31% of the stock is currently owned by company insiders.

Veralto Price Performance

Shares of VLTO stock opened at $100.40 on Tuesday. The stock has a 50-day moving average price of $100.66 and a 200 day moving average price of $105.23. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 4.24 and a beta of 1.11. Veralto Co. has a 12 month low of $85.90 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Research analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. Veralto’s payout ratio is 13.17%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus cut their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group started coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Citigroup lowered their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada lowered their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $112.55.

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.