King Luther Capital Management Corp Buys Shares of 467,170 Veralto Co. (NYSE:VLTO)

King Luther Capital Management Corp acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 467,170 shares of the company's stock, valued at approximately $38,429,000. King Luther Capital Management Corp owned approximately 0.19% of Veralto at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brown Advisory Inc. purchased a new stake in shares of Veralto during the fourth quarter worth about $528,018,000. Impax Asset Management Group plc purchased a new stake in Veralto in the 4th quarter worth approximately $347,827,000. Norges Bank purchased a new stake in Veralto in the 4th quarter worth approximately $266,143,000. Franklin Resources Inc. purchased a new stake in Veralto in the 4th quarter worth approximately $178,006,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Veralto by 34,761.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,919,825 shares of the company's stock worth $157,925,000 after purchasing an additional 1,914,318 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 1.2 %

VLTO traded up $1.23 during trading hours on Wednesday, reaching $100.76. The company's stock had a trading volume of 1,197,249 shares, compared to its average volume of 1,555,143. The business's 50-day moving average is $91.68 and its 200-day moving average is $83.52. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The stock has a market cap of $24.87 billion and a PE ratio of 27.91. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $100.92.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. The business's quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Wednesday, March 27th. Veralto's dividend payout ratio is presently 9.97%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on VLTO shares. The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They set a "buy" rating and a $104.00 target price on the stock. BMO Capital Markets increased their price objective on Veralto from $97.00 to $101.00 and gave the company an "outperform" rating in a research note on Thursday, April 25th. Robert W. Baird increased their price objective on Veralto from $90.00 to $98.00 and gave the company a "neutral" rating in a research note on Thursday, April 25th. Citigroup increased their price objective on Veralto from $89.00 to $94.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada increased their price objective on Veralto from $78.00 to $91.00 and gave the company a "sector perform" rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.18.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company's stock.

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.