Veralto Corporation $VLTO Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in Veralto Corporation (NYSE:VLTO) by 7.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 274,684 shares of the company’s stock after selling 21,301 shares during the quarter. King Luther Capital Management Corp owned about 0.11% of Veralto worth $25,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Highland Investment Advisors LLC acquired a new stake in Veralto in the second quarter worth about $32,000. Provenance Wealth Advisors LLC increased its holdings in shares of Veralto by 997.4% during the third quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock valued at $40,000 after acquiring an additional 389 shares in the last quarter. Putney Financial Group LLC purchased a new position in shares of Veralto in the 3rd quarter valued at approximately $42,000. Latitude Advisors LLC purchased a new position in shares of Veralto in the 3rd quarter valued at approximately $47,000. Finally, North Star Investment Management Corp. raised its position in shares of Veralto by 540.5% in the 3rd quarter. North Star Investment Management Corp. now owns 711 shares of the company’s stock valued at $67,000 after purchasing an additional 600 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VLTO has been the subject of a number of recent analyst reports. Citigroup lifted their target price 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. Stifel Nicolaus raised their price target on shares of Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Wall Street Zen cut shares of Veralto from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. UBS Group lifted their price objective on shares of Veralto from $104.00 to $106.00 and gave the stock a “neutral” rating in a research note on Monday, October 5th. Finally, BNP Paribas Exane reissued an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Veralto in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.70.

Veralto Stock Up 0.5%

Shares of VLTO stock opened at $118.79 on Thursday. Veralto Corporation has a fifty-two week low of $80.03 and a fifty-two week high of $119.03. The firm has a market capitalization of $28.88 billion, a PE ratio of 29.40, a P/E/G ratio of 3.28 and a beta of 0.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.82 and a current ratio of 2.03. The stock’s 50-day simple moving average is $101.22 and its 200-day simple moving average is $93.74.

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

Veralto Announces Dividend

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

Insider Buying and Selling at Veralto

In other Veralto news, CAO Bernard M. Skeete sold 1,514 shares of Veralto stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $112.58, for a total transaction of $170,446.12. Following the completion of the sale, the chief accounting officer directly owned 4,760 shares in the company, valued at approximately $535,880.80. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mattias Byström sold 9,069 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total transaction of $1,054,724.70. Following the completion of the sale, the senior vice president directly owned 35,536 shares in the company, valued at $4,132,836.80. This trade represents a 20.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 55,094 shares of company stock valued at $6,032,688. 0.43% of the stock is currently owned by 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.