Veralto Co. (NYSE:VLTO) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its stake in shares of Veralto Co. (NYSE:VLTO) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 465,049 shares of the company’s stock after buying an additional 427 shares during the period. King Luther Capital Management Corp’s holdings in Veralto were worth $52,020,000 at the end of the most recent quarter.

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

Veralto Trading Up 1.1 %

VLTO opened at $105.11 on Thursday. Veralto Co. has a 12 month low of $70.47 and a 12 month high of $115.00. The stock has a market capitalization of $25.99 billion and a price-to-earnings 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. The business has a fifty day moving average price of $108.32 and a 200 day moving average price of $104.32.

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

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. TD Cowen lifted their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. UBS Group assumed coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report 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 stock. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and a consensus target price of $108.27.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the completion of the sale, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at $1,324,089.80. This represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by corporate insiders.

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.