Cullen Capital Management LLC Buys 1,593 Shares of Veralto Co. (NYSE:VLTO)

Cullen Capital Management LLC raised its holdings in shares of Veralto Co. (NYSE:VLTO) by 43.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,251 shares of the company’s stock after purchasing an additional 1,593 shares during the quarter. Cullen Capital Management LLC’s holdings in Veralto were worth $535,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new position in shares of Veralto in the fourth quarter valued at approximately $7,793,000. Wells Fargo & Company MN raised its position in Veralto by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 230,895 shares of the company’s stock valued at $23,517,000 after buying an additional 1,861 shares during the last quarter. Prudential PLC lifted its stake in Veralto by 0.9% during the 4th quarter. Prudential PLC now owns 121,817 shares of the company’s stock valued at $12,407,000 after acquiring an additional 1,072 shares in the last quarter. DF Dent & Co. Inc. lifted its stake in Veralto by 11.1% during the 4th quarter. DF Dent & Co. Inc. now owns 1,680,980 shares of the company’s stock valued at $171,208,000 after acquiring an additional 168,346 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in shares of Veralto by 9.0% in the 4th quarter. Motley Fool Asset Management LLC now owns 5,362 shares of the company’s stock worth $546,000 after acquiring an additional 442 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Price Performance

Shares of NYSE VLTO opened at $88.71 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a fifty day simple moving average of $98.73 and a two-hundred day simple moving average of $103.48. Veralto Co. has a 1-year low of $86.04 and a 1-year high of $115.00. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping 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%. Analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is currently 13.17%.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Royal Bank of Canada cut their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus decreased their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.50.

Insider Buying and Selling

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now directly owns 116,637 shares in the company, valued at $11,495,742.72. This represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction 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 approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,471 shares of company stock valued at $2,234,030. 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.