Veralto Corporation $VLTO Stock: King Luther Capital Management Corp Lowers Position

King Luther Capital Management Corp trimmed its stake in shares of Veralto Corporation (NYSE:VLTO) by 7.2% during the 3rd quarter, Holdings Channel reports. The fund owned 274,684 shares of the company’s stock after selling 21,301 shares during the quarter. King Luther Capital Management Corp’s holdings in Veralto were worth $25,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Trust Advisors LP raised its position in Veralto by 31.5% during the first quarter. First Trust Advisors LP now owns 6,150,388 shares of the company’s stock valued at $543,817,000 after acquiring an additional 1,472,304 shares in the last quarter. Amundi boosted its position in Veralto by 16.3% in the 1st quarter. Amundi now owns 3,797,526 shares of the company’s stock worth $335,785,000 after purchasing an additional 531,478 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Veralto by 8.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,285,938 shares of the company’s stock worth $309,946,000 after purchasing an additional 255,749 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Veralto in the 2nd quarter worth approximately $235,200,000. Finally, Janus Henderson Group PLC boosted its position in Veralto by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,095,393 shares of the company’s stock worth $185,266,000 after purchasing an additional 69,578 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of Veralto stock opened at $118.79 on Thursday. The company has a quick ratio of 1.82, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. Veralto Corporation has a twelve month low of $80.03 and a twelve month high of $119.03. The business has a 50-day moving average price of $101.22 and a 200 day moving average price of $93.74. The firm has a market cap of $28.88 billion, a PE ratio of 29.40, a P/E/G ratio of 3.28 and a beta of 0.51.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a return on equity of 35.08% and a net margin of 17.27%. Veralto’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Sell-side analysts predict that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a $0.13 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s payout ratio is 12.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Veralto from $107.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Royal Bank Of Canada boosted their target price on shares of Veralto from $109.00 to $121.00 and gave the company a “sector perform” rating in a research note on Monday, November 2nd. Weiss Ratings raised shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. BNP Paribas Exane reissued an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Veralto in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Veralto from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.70.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 7,098 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $105.00, for a total value of $745,290.00. Following the completion of the sale, the chief executive officer owned 120,060 shares of the company’s stock, valued at approximately $12,606,300. The trade was a 5.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mattias Byström sold 9,069 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $116.30, for a total transaction of $1,054,724.70. Following the sale, the senior vice president directly owned 35,536 shares of the company’s stock, valued at $4,132,836.80. This represents a 20.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,094 shares of company stock valued at $6,032,688 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

Veralto Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.