Veralto Co. (NYSE:VLTO) Stock Holdings Boosted by King Luther Capital Management Corp

by · The Markets Daily

King Luther Capital Management Corp raised its position in shares of Veralto Co. (NYSE:VLTO – Free Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 474,370 shares of the company’s stock after purchasing an additional 9,321 shares during the quarter. King Luther Capital Management Corp owned about 0.19% of Veralto worth $48,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Veralto during the 3rd quarter valued at $25,000. OFI Invest Asset Management purchased a new stake in shares of Veralto in the fourth quarter valued at $26,000. BankPlus Trust Department acquired a new stake in shares of Veralto in the fourth quarter worth $29,000. Albion Financial Group UT grew its holdings in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Veralto during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Citigroup reduced their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Six 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, the stock currently has an average rating of “Hold” and a consensus target price of $112.55.

Check Out Our Latest Stock Analysis on Veralto

Veralto Trading Up 0.3 %

NYSE:VLTO opened at $100.40 on Tuesday. The stock’s 50 day moving average price is $100.66 and its 200 day moving average price is $105.23. Veralto Co. has a 52 week low of $85.90 and a 52 week high of $115.00. The company has a market capitalization of $24.85 billion, a P/E ratio of 30.06, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

Veralto (NYSE:VLTO – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, research analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.44%. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock worth $1,150,366 over the last 90 days. Insiders own 0.31% of the company’s stock.

About Veralto

(Free Report)

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.

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