Cullen Capital Management LLC Boosts Stake in Veralto Co. (NYSE:VLTO)

Cullen Capital Management LLC raised its holdings in Veralto Co. (NYSE:VLTO) by 43.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,251 shares of the company’s stock after acquiring an additional 1,593 shares during the quarter. Cullen Capital Management LLC’s holdings in Veralto were worth $535,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of VLTO. Public Sector Pension Investment Board raised its stake in Veralto by 119.6% in the third quarter. Public Sector Pension Investment Board now owns 10,834 shares of the company’s stock valued at $1,212,000 after purchasing an additional 5,900 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of Veralto by 8.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 128,677 shares of the company’s stock valued at $14,394,000 after buying an additional 10,390 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Veralto by 7.4% during the 3rd quarter. Quantinno Capital Management LP now owns 44,471 shares of the company’s stock worth $4,975,000 after acquiring an additional 3,071 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Veralto in the third quarter worth $576,000. Finally, State Street Corp increased its stake in Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 5.5 %

Shares of NYSE VLTO opened at $88.71 on Friday. The firm’s fifty day moving average is $98.73 and its 200 day moving average is $103.48. Veralto Co. has a 52 week low of $86.04 and a 52 week high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities research analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,471 shares of company stock worth $2,234,030. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VLTO shares. Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada cut their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group assumed coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Veralto presently has a consensus rating of “Hold” and a consensus target price of $113.50.

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.