Fri Sep 20 11:42:48 UTC 2024: ## King Luther Capital Management Cuts Veralto Stake, Institutional Investors Remain Bullish

**New York, NY (MarketBeat News) -** King Luther Capital Management Corp reduced its stake in Veralto Co. (NYSE: VLTO) by 6.9% during the second quarter, according to the company’s recent filing with the Securities and Exchange Commission (SEC). Despite this, overall institutional investor interest in Veralto remains strong, with several other funds increasing their holdings during recent quarters.

King Luther now owns 464,622 shares of Veralto, worth approximately $44.36 million, after selling 34,650 shares during the quarter. This represents about 0.19% of Veralto’s total outstanding shares.

Other notable institutional investor movements include:

* **Vanguard Group Inc.** increased its stake in Veralto by 6.1% during the first quarter, now owning 27,429,158 shares worth $2,431,869,000.
* **Capital International Investors** increased its position by 8.5% during the first quarter, now owning 7,097,130 shares worth $629,232,000.
* **Bank of New York Mellon Corp** increased its position by 5.0% during the second quarter, now owning 4,178,777 shares worth $398,948,000.
* **Swedbank AB** increased its position by 4.9% during the second quarter, now owning 2,814,983 shares worth $268,746,000.
* **Northern Trust Corp** significantly increased its position by 33,575.5% during the fourth quarter, now owning 2,520,275 shares worth $207,318,000.

Institutional investors and hedge funds currently own 91.28% of Veralto’s stock.

Analysts remain optimistic about Veralto’s future. Several firms, including The Goldman Sachs Group, Robert W. Baird, and Deutsche Bank Aktiengesellschaft, have recently increased their target price for the company’s stock. The consensus rating on Veralto is currently “Moderate Buy,” with an average target price of $104.46.

Veralto’s recent financial performance has also been positive, exceeding analysts’ estimates for both earnings and revenue in the last quarter. The company’s focus on water analytics, water treatment, and packaging solutions continues to drive growth, further solidifying its position in the global market.

Despite King Luther’s reduced stake, the overall bullish sentiment from other institutional investors suggests continued confidence in Veralto’s long-term growth prospects.

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